Polar Asset Management Partners Inc. Purchases Shares of 22,300 MasTec, Inc. (NYSE:MTZ)

Polar Asset Management Partners Inc. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 22,300 shares of the construction company’s stock, valued at approximately $3,036,000.

A number of other large investors also recently modified their holdings of MTZ. Hood River Capital Management LLC boosted its position in MasTec by 3.5% during the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock valued at $208,444,000 after purchasing an additional 51,531 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of MasTec by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after purchasing an additional 91,564 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after buying an additional 363,502 shares during the last quarter. First Trust Advisors LP grew its stake in shares of 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. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 valued at $75,787,000 after buying an additional 114,502 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were 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 owns 39,782 shares of the company’s stock, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the 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 sale, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

MasTec Stock Up 1.2%

MTZ stock opened at $152.54 on Tuesday. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 136.19 and a beta of 1.71. The business’s fifty day moving average price is $130.19 and its two-hundred day moving average price is $135.30.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Stifel Nicolaus upped their target price on shares of MasTec from $143.00 to $171.00 and gave the company a “buy” rating in a report on Monday, May 5th. Piper Sandler lifted their price target on MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group initiated coverage on MasTec in a research note on Friday, May 16th. They issued a “buy” rating and a $188.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.06.

MasTec 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.