GAMMA Investing LLC Purchases 146 Shares of MasTec, Inc. (NYSE:MTZ)

GAMMA Investing LLC boosted its position in shares of MasTec, Inc. (NYSE:MTZ) by 39.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 512 shares of the construction company’s stock after purchasing an additional 146 shares during the period. GAMMA Investing LLC’s holdings in MasTec were worth $63,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after acquiring an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in MasTec in the 2nd quarter valued at about $79,494,000. Hood River Capital Management LLC raised its position in shares of MasTec by 59.8% during 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 acquiring an additional 446,762 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of MasTec by 3,439.7% during the second quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after buying an additional 255,088 shares during the last quarter. Finally, Appian Way Asset Management LP acquired a new position in shares of MasTec in the 1st quarter valued at $12,000,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Down 0.0 %

MasTec stock opened at $125.37 on Wednesday. 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 1-year low of $44.65 and a 1-year high of $130.22. The company has a fifty day simple moving average of $114.85 and a 200 day simple moving average of $106.67. The company has a market cap of $9.96 billion, a P/E ratio of -895.57 and a beta of 1.70.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company earned $0.81 EPS. MasTec’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that MasTec, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock worth $2,978,212 in the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MTZ shares. Stifel Nicolaus raised their price objective on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. B. Riley increased their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. DA Davidson raised their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial raised their price objective on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $127.62.

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.