D. E. Shaw & Co. Inc. Purchases 46,725 Shares of MasTec, Inc. (NYSE:MTZ)

D. E. Shaw & Co. Inc. grew its position in MasTec, Inc. (NYSE:MTZ) by 178.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,874 shares of the construction company’s stock after acquiring an additional 46,725 shares during the period. D. E. Shaw & Co. Inc.’s holdings in MasTec were worth $9,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allworth Financial LP boosted its stake in MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after purchasing an additional 78 shares in the last quarter. Arizona State Retirement System lifted its position in MasTec by 0.5% during the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock worth $2,504,000 after buying an additional 89 shares in the last quarter. Fielder Capital Group LLC grew its holdings in MasTec by 6.1% during the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock worth $247,000 after acquiring an additional 105 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock valued at $1,883,000 after acquiring an additional 105 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of MasTec by 29.8% in the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock worth $67,000 after acquiring an additional 113 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTZ has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Wolfe Research initiated coverage on MasTec in a report on Monday, March 31st. They set a “peer perform” rating on the stock. Piper Sandler increased their price objective on MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Guggenheim restated a “buy” rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Finally, KeyCorp raised their price target on MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.33.

MasTec Stock Up 0.5%

Shares of NYSE:MTZ opened at $157.52 on Thursday. The company has a 50 day moving average price of $124.39 and a two-hundred day moving average price of $133.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $12.43 billion, a PE ratio of 140.64 and a beta of 1.71. MasTec, Inc. has a 52 week low of $89.96 and a 52 week high of $166.95.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. The business 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 in the prior year, the company earned ($0.13) EPS. Analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now directly owns 39,782 shares of the company’s stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

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.