MasTec, Inc. (NYSE:MTZ) Shares Purchased by EntryPoint Capital LLC

EntryPoint Capital LLC boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,314 shares of the construction company’s stock after acquiring an additional 491 shares during the period. EntryPoint Capital LLC’s holdings in MasTec were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MTZ. Charles Schwab Investment Management Inc. raised its position in shares of MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares during the last quarter. Raymond James Trust N.A. purchased a new position in MasTec during the third quarter worth $276,000. Cerity Partners LLC raised its holdings in shares of MasTec by 285.4% in the third quarter. Cerity Partners LLC now owns 23,151 shares of the construction company’s stock worth $2,850,000 after acquiring an additional 17,144 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of MasTec in the third quarter valued at $405,000. Finally, FMR LLC boosted its stake in shares of MasTec by 18.1% during the third quarter. FMR LLC now owns 3,382 shares of the construction company’s stock valued at $416,000 after acquiring an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MTZ shares. Robert W. Baird cut their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lowered their target price on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Guggenheim reiterated a “buy” rating and issued a $195.00 price target on shares of MasTec in a report on Tuesday. Finally, Truist Financial raised their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

MasTec Stock Performance

NYSE MTZ opened at $118.70 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The firm has a market capitalization of $9.41 billion, a P/E ratio of 105.98 and a beta of 1.74. The business’s 50-day simple moving average is $133.53 and its 200-day simple moving average is $133.14.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.30% of the stock is owned by insiders.

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.