Graham Capital Management L.P. Purchases 11,956 Shares of MasTec, Inc. (NYSE:MTZ)

Graham Capital Management L.P. grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 78.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,147 shares of the construction company’s stock after purchasing an additional 11,956 shares during the quarter. Graham Capital Management L.P.’s holdings in MasTec were worth $3,696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MasTec during the 4th quarter worth approximately $59,910,000. First Trust Advisors LP increased its holdings in MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after buying an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of MasTec during the 4th quarter worth about $31,730,000. Finally, Barclays PLC grew 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 valued at $29,797,000 after acquiring an additional 209,472 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 0.5 %

MTZ stock opened at $148.41 on Friday. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95. The firm has a market cap of $11.71 billion, a PE ratio of 132.51 and a beta of 1.71. The firm’s 50 day moving average price is $122.29 and its 200-day moving average price is $133.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. On average, equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and issued a $195.00 price target on shares of MasTec in a research note on Monday, May 5th. B. Riley reiterated a “buy” rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Stifel Nicolaus upped their price target on shares of MasTec from $143.00 to $171.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, KeyCorp increased their target price on MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.33.

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.