Interval Partners LP Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Interval Partners LP cut its position in MasTec, Inc. (NYSE:MTZ) by 48.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,252 shares of the construction company’s stock after selling 22,113 shares during the quarter. Interval Partners LP’s holdings in MasTec were worth $2,488,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Xponance Inc. grew its position in MasTec by 3.7% during the 2nd quarter. Xponance Inc. now owns 7,544 shares of the construction company’s stock worth $807,000 after purchasing an additional 268 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in MasTec in the 2nd quarter worth approximately $1,062,000. Hood River Capital Management LLC increased its position in shares of 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 valued at $127,773,000 after buying an additional 446,762 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in MasTec in the 2nd quarter worth approximately $79,494,000. Finally, DRW Securities LLC acquired a new position in shares of MasTec during the 2nd quarter worth approximately $2,568,000. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Trading Down 0.6 %

Shares of MTZ 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 firm has a market capitalization of $9.96 billion, a P/E ratio of -895.57 and a beta of 1.70. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average is $109.05 and its two-hundred day moving average is $102.82.

MasTec (NYSE:MTZ) last released its quarterly earnings data 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 company had revenue of $2.96 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.81 EPS. On average, research analysts predict that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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