Healthcare of Ontario Pension Plan Trust Fund Takes $5.05 Million Position in MasTec, Inc. $MTZ

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in MasTec, Inc. (NYSE:MTZ) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,700 shares of the construction company’s stock, valued at approximately $5,051,000.

A number of other institutional investors have also recently made changes to their positions in MTZ. Victory Capital Management Inc. increased its position in MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after buying an additional 1,690,896 shares in the last quarter. Peconic Partners LLC boosted its holdings in MasTec by 113.3% in the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after acquiring an additional 850,000 shares in the last quarter. First Trust Advisors LP grew its stake in shares of MasTec by 7.6% during the first quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company’s stock worth $454,163,000 after acquiring an additional 100,151 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MasTec by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,220,703 shares of the construction company’s stock worth $265,395,000 after acquiring an additional 94,344 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of MasTec by 11.3% during the second quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock valued at $181,961,000 after acquiring an additional 108,504 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the subject of several research analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $450.00 price objective on shares of MasTec in a research report on Monday, May 4th. Robert W. Baird upped their price target on shares of MasTec from $473.00 to $475.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on shares of MasTec from $471.00 to $491.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. KeyCorp lifted their price objective on shares of MasTec from $460.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, UBS Group boosted their price objective on shares of MasTec from $420.00 to $453.00 and gave the company a “buy” rating in a report on Friday, May 1st. Nineteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus target price of $466.89.

MasTec Trading Down 8.1%

MasTec stock opened at $287.00 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 52 week low of $160.08 and a 52 week high of $441.43. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 50.26 and a beta of 1.77. The stock has a 50-day moving average price of $369.21 and a 200 day moving average price of $332.92.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.41. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $0.51 EPS. MasTec’s quarterly revenue was up 34.5% on a year-over-year basis. Sell-side analysts anticipate that MasTec, Inc. will post 9.18 EPS for the current year.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $417.00, for a total value of $1,251,000.00. Following the sale, the director directly owned 30,646 shares of the company’s stock, valued at $12,779,382. This represents a 8.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the sale, the director directly owned 10,816 shares in the company, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 21.40% of the company’s stock.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.