Teza Capital Management LLC Takes $323,000 Position in MasTec, Inc. (NYSE:MTZ)

Teza Capital Management LLC purchased a new position in MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,374 shares of the construction company’s stock, valued at approximately $323,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after purchasing an additional 209,472 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in MasTec during the 4th quarter worth approximately $240,000. Merit Financial Group LLC acquired a new position in shares of MasTec during the fourth quarter valued at approximately $415,000. HB Wealth Management LLC acquired a new position in shares of MasTec during the fourth quarter valued at approximately $232,000. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of MasTec in the fourth quarter valued at approximately $221,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTZ has been the topic of a number of research analyst reports. Citigroup lifted their price target on MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. B. Riley restated a “buy” rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Piper Sandler lifted their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Jefferies Financial Group initiated coverage on shares of MasTec in a report on Friday, May 16th. They set a “buy” rating and a $188.00 target price for the company. Finally, Wolfe Research began coverage on shares of MasTec in a research report on Monday, March 31st. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.06.

Insider Activity

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

MasTec Trading Up 0.6%

Shares of MTZ opened at $158.24 on Wednesday. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The firm has a market capitalization of $12.49 billion, a P/E ratio of 141.29 and a beta of 1.71. The firm has a 50-day moving average price of $127.82 and a 200 day moving average price of $134.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the business posted ($0.13) EPS. MasTec’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.