Amalgamated Bank Raises Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Amalgamated Bank raised its holdings in MasTec, Inc. (NYSE:MTZ) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,771 shares of the construction company’s stock after buying an additional 1,030 shares during the quarter. Amalgamated Bank’s holdings in MasTec were worth $4,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTZ. Hobbs Group Advisors LLC purchased a new stake in MasTec in the second quarter valued at about $27,000. Quarry LP purchased a new stake in MasTec in the fourth quarter valued at about $37,000. GAMMA Investing LLC raised its stake in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec in the second quarter worth about $40,000. Finally, Bessemer Group Inc. raised its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after purchasing an additional 598 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Up 1.3 %

Shares of MTZ opened at $126.14 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $127.97. The stock’s 50 day moving average is $108.63 and its two-hundred day moving average is $102.58. The firm has a market cap of $10.02 billion, a P/E ratio of -901.00 and a beta of 1.70.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $0.81 earnings per share. MasTec’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several research analyst reports. Truist Financial restated a “hold” rating and issued a $112.00 price objective (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. DA Davidson raised their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup raised their price objective on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. B. Riley raised their price objective on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group raised their price objective on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.30% of the stock is owned by corporate 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.