Samlyn Capital LLC Sells 392,536 Shares of MasTec, Inc. (NYSE:MTZ)

Samlyn Capital LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 50.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 384,735 shares of the construction company’s stock after selling 392,536 shares during the period. Samlyn Capital LLC owned 0.48% of MasTec worth $41,163,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Xponance Inc. raised 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 buying an additional 268 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in MasTec during the 2nd quarter worth approximately $1,062,000. Hood River Capital Management LLC raised its position in MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in MasTec during the 2nd quarter worth approximately $79,494,000. Finally, DRW Securities LLC purchased a new position in MasTec during the 2nd quarter worth approximately $2,568,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated 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 sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

MTZ has been the subject of a number of recent research reports. DA Davidson raised their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus lifted their target price on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup lifted 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. Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

MasTec Stock Down 0.6 %

MTZ stock opened at $125.38 on Tuesday. MasTec, Inc. has a one year low of $44.65 and a one year high of $127.97. The stock has a market capitalization of $9.96 billion, a PE ratio of -895.57 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. The company has a fifty day moving average of $109.05 and a 200-day moving average of $102.82.

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

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.