Sandbar Asset Management LLP Buys New Position in MasTec, Inc. (NYSE:MTZ)

Sandbar Asset Management LLP purchased a new stake in MasTec, Inc. (NYSE:MTZFree Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,750 shares of the construction company’s stock, valued at approximately $796,000. MasTec comprises approximately 2.2% of Sandbar Asset Management LLP’s portfolio, making the stock its 21st biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its stake in MasTec by 92.5% during the second quarter. First Horizon Advisors Inc. now owns 256 shares of the construction company’s stock valued at $30,000 after purchasing an additional 123 shares during the last quarter. Covestor Ltd raised its position in shares of MasTec by 40.1% during the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock worth $44,000 after purchasing an additional 145 shares during the period. Geneos Wealth Management Inc. raised its position in shares of MasTec by 30.5% during the second quarter. Geneos Wealth Management Inc. now owns 535 shares of the construction company’s stock worth $63,000 after purchasing an additional 125 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of MasTec during the first quarter valued at $52,000. Finally, Lazard Asset Management LLC purchased a new position in MasTec in the 1st quarter worth about $53,000. 72.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MasTec

In other MasTec news, CFO Paul Dimarco sold 1,332 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $71.35, for a total value of $95,038.20. Following the completion of the transaction, the chief financial officer now owns 16,620 shares of the company’s stock, valued at approximately $1,185,837. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Timothy Michael Love sold 1,095 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $71.46, for a total value of $78,248.70. Following the sale, the chief accounting officer now directly owns 10,525 shares in the company, valued at approximately $752,116.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul Dimarco sold 1,332 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $71.35, for a total value of $95,038.20. Following the transaction, the chief financial officer now owns 16,620 shares of the company’s stock, valued at approximately $1,185,837. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

MasTec Stock Performance

MTZ traded up $0.30 during midday trading on Tuesday, reaching $55.24. The company’s stock had a trading volume of 353,922 shares, compared to its average volume of 782,246. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.12. The stock has a market cap of $4.35 billion, a P/E ratio of -86.76 and a beta of 1.56. The company has a fifty day simple moving average of $64.87 and a 200 day simple moving average of $90.69.

MasTec (NYSE:MTZGet Free Report) last released its earnings results on Tuesday, October 31st. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.96). The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.83 billion. MasTec had a negative net margin of 0.40% and a positive return on equity of 5.86%. Research analysts expect that MasTec, Inc. will post 2.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several recent analyst reports. TD Cowen decreased their target price on shares of MasTec from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, August 7th. Credit Suisse Group increased their target price on MasTec from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 7th. StockNews.com assumed coverage on MasTec in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Barclays reduced their price target on shares of MasTec from $106.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Finally, The Goldman Sachs Group lowered shares of MasTec from a “buy” rating to a “neutral” rating and decreased their target price for the company from $119.00 to $54.00 in a research note on Wednesday, November 8th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.46.

Read Our Latest Research Report on MasTec

MasTec Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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