XTX Topco Ltd Acquires 8,757 Shares of MasTec, Inc. (NYSE:MTZ)

XTX Topco Ltd boosted its stake in MasTec, Inc. (NYSE:MTZ) by 356.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,212 shares of the construction company’s stock after acquiring an additional 8,757 shares during the period. XTX Topco Ltd’s holdings in MasTec were worth $1,200,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in shares of MasTec during the 4th quarter valued at about $206,000. Vanguard Personalized Indexing Management LLC bought a new stake in MasTec during the 4th quarter valued at approximately $430,000. Quadrant Capital Group LLC boosted its position in MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares in the last quarter. Norges Bank purchased a new position in shares of MasTec during the 4th quarter worth approximately $46,970,000. Finally, Wells Fargo & Company MN raised its position in shares of MasTec by 7.7% in the 4th quarter. Wells Fargo & Company MN now owns 99,110 shares of the construction company’s stock worth $7,505,000 after acquiring an additional 7,050 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ opened at $126.14 on Friday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $127.97. The company has a market capitalization of $10.02 billion, a P/E ratio of -901.00 and a beta of 1.70. The firm has a 50 day moving average of $108.63 and a 200 day moving average of $102.37. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

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

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Stifel Nicolaus upped their target price on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial restated a “hold” rating and issued a $112.00 price objective (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Finally, DA Davidson lifted their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

About MasTec

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.