MasTec, Inc. (NYSE:MTZ) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 173.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,300 shares of the construction company’s stock after purchasing an additional 100,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.20% of MasTec worth $16,937,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new stake in MasTec during the 2nd quarter worth about $27,000. Quarry LP acquired a new position in MasTec in the 4th quarter valued at approximately $37,000. GAMMA Investing LLC boosted its stake in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after buying an additional 144 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec during the 2nd quarter valued at $40,000. Finally, Bessemer Group Inc. increased 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 acquiring an additional 598 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction 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 transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.30% of the stock is currently owned by corporate insiders.

MasTec Trading Down 0.6 %

MTZ stock opened at $125.38 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of -895.57 and a beta of 1.70. The business has a fifty day moving average price of $109.05 and a 200 day moving average price of $102.82. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $127.97.

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

Wall Street Analysts Forecast Growth

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

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.