121,723 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Renaissance Technologies LLC
Renaissance Technologies LLC acquired 121,723 shares of MasTec, Inc. (NYSE:MTZ) in Q4, valued at approximately $16.57 million, increasing its stake to 0.15%. Other hedge funds also adjusted their positions, with significant increases from Allworth Financial LP and UMB Bank n.a. MasTec's stock opened at $118.18, with a 52-week range of $82.29 to $166.95. The company reported an EPS of $1.36, beating estimates, and analysts predict a 3.44 EPS for the current year. Brokerages have issued various ratings, with Guggenheim setting a target price of $195.00.
Renaissance Technologies LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 121,723 shares of the construction company's stock, valued at approximately $16,571,000. Renaissance Technologies LLC owned approximately 0.15% of MasTec as of its most recent SEC filing.
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Several other hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its holdings in MasTec by 15.1% during the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock valued at $81,000 after buying an additional 78 shares during the period. Arizona State Retirement System increased its holdings in shares of MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after acquiring an additional 89 shares during the period. Fielder Capital Group LLC raised its position in shares of MasTec by 6.1% in 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 in the last quarter. UMB Bank n.a. lifted its stake in shares of MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock worth $67,000 after purchasing an additional 113 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in MasTec by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company's stock valued at $326,000 after purchasing an additional 116 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
MasTec Trading Up 1.0 %
MasTec stock opened at $118.18 on Tuesday. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The stock has a 50-day moving average price of $124.28 and a 200 day moving average price of $133.05. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 105.52 and a beta of 1.62.
- Rate cuts could send MasTec stock earnings through the roof
MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Sell-side analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.
Insider Buying and Selling at MasTec
In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company'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 value of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 21.30% of the company's stock.
Analyst Upgrades and Downgrades
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A number of brokerages have commented on MTZ. Guggenheim reiterated a "buy" rating and issued a $195.00 target price on shares of MasTec in a report on Tuesday, March 25th. Piper Sandler started coverage on shares of MasTec in a research report on Tuesday, April 8th. They set an "overweight" rating and a $134.00 target price for the company. Wolfe Research started coverage on shares of MasTec in a report on Monday, March 31st. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, Barclays boosted their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $153.87.
View Our Latest Report on MTZ
MasTec 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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