MasTec, Inc. (NYSE:MTZ) Holdings Lifted by Hood River Capital Management LLC

Hood River Capital Management LLC lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,531,104 shares of the construction company’s stock after buying an additional 51,531 shares during the quarter. MasTec comprises 3.1% of Hood River Capital Management LLC’s portfolio, making the stock its 3rd largest position. Hood River Capital Management LLC owned approximately 1.93% of MasTec worth $208,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP raised its position in shares of MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in MasTec by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock worth $75,787,000 after purchasing an additional 114,502 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in MasTec during the fourth quarter valued at $59,910,000. Prudential Financial Inc. grew its position in shares of MasTec by 52.4% in the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company’s stock worth $55,162,000 after buying an additional 139,235 shares during the period. Finally, Wolf Hill Capital Management LP lifted its position in MasTec by 4.3% during the 4th quarter. Wolf Hill Capital Management LP now owns 373,965 shares of the construction company’s stock valued at $50,912,000 after acquiring an additional 15,300 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MTZ shares. Guggenheim reaffirmed a “buy” rating and set a $195.00 price objective on shares of MasTec in a research report on Tuesday, March 25th. B. Riley reiterated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Robert W. Baird reduced their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Truist Financial dropped their price objective on MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup boosted their target price on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.00.

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of MasTec stock opened at $114.06 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $83.17 and a 52 week high of $166.95. The stock’s 50-day simple moving average is $121.15 and its 200-day simple moving average is $132.61. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 101.84 and a beta of 1.62.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

MasTec Company Profile

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.