Hood River Capital Management LLC Buys 446,762 Shares of MasTec, Inc. (NYSE:MTZ)

Hood River Capital Management LLC lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 59.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,194,250 shares of the construction company’s stock after buying an additional 446,762 shares during the period. MasTec comprises approximately 2.6% of Hood River Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Hood River Capital Management LLC owned approximately 1.50% of MasTec worth $127,773,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in MasTec during the 4th quarter worth approximately $206,000. Vanguard Personalized Indexing Management LLC acquired a new stake in MasTec in the fourth quarter valued at $430,000. Quadrant Capital Group LLC raised 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 worth $68,000 after purchasing an additional 212 shares during the last quarter. Norges Bank acquired a new position in MasTec during the 4th quarter worth about $46,970,000. Finally, Wells Fargo & Company MN grew 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 valued at $7,505,000 after buying an additional 7,050 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on MTZ shares. The Goldman Sachs Group lifted 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. B. Riley boosted their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial reiterated a “hold” rating and set a $112.00 price objective (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. Citigroup boosted their target price on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, DA Davidson lifted their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.50.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Up 1.3 %

MTZ stock opened at $126.14 on Monday. The stock’s 50 day simple moving average is $108.63 and its 200 day simple moving average is $102.58. The company has a market cap of $10.02 billion, a P/E ratio of -901.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $127.97.

MasTec (NYSE:MTZ) last issued its 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 company had revenue of $2.96 billion for 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%. MasTec’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, research analysts expect that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

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.