Lombard Odier Asset Management Europe Ltd Invests $1.06 Million in MasTec, Inc. (NYSE:MTZ)

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,922 shares of the construction company’s stock, valued at approximately $1,062,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MTZ. Hood River Capital Management LLC lifted its position in MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after purchasing an additional 446,762 shares during the period. D1 Capital Partners L.P. acquired a new stake in MasTec in the second quarter worth approximately $79,494,000. DRW Securities LLC acquired a new stake in MasTec in the second quarter worth approximately $2,568,000. Pacer Advisors Inc. lifted its position in MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in MasTec by 173.4% in the second quarter. Canada Pension Plan Investment Board now owns 158,300 shares of the construction company’s stock worth $16,937,000 after purchasing an additional 100,400 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.30% of the company’s stock.

MasTec Stock Down 0.6 %

MasTec stock opened at $125.38 on Tuesday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $127.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The firm has a market cap of $9.96 billion, a PE ratio of -895.57 and a beta of 1.70. The firm’s 50 day moving average price is $109.05 and its two-hundred day moving average price is $102.82.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MTZ shares. B. Riley upped their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus upped their price target on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their price target on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. DA Davidson upped their price target on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $112.00 price target (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average target price of $117.50.

MasTec 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.