Appian Way Asset Management LP Has $16.68 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Appian Way Asset Management LP boosted its position in MasTec, Inc. (NYSE:MTZ) by 21.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,874 shares of the construction company’s stock after purchasing an additional 27,191 shares during the quarter. MasTec comprises 4.3% of Appian Way Asset Management LP’s holdings, making the stock its 8th biggest position. Appian Way Asset Management LP owned approximately 0.20% of MasTec worth $16,677,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MTZ. Marshall Wace LLP increased its stake in shares of MasTec by 4.3% in the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after purchasing an additional 29,631 shares during the period. Xponance Inc. grew its holdings in MasTec by 3.7% in 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 in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new stake in MasTec in the 2nd quarter valued at approximately $1,062,000. Hood River Capital Management LLC raised its stake 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 valued at $127,773,000 after acquiring an additional 446,762 shares in the last quarter. Finally, D1 Capital Partners L.P. bought a new stake in MasTec during the 2nd quarter valued at $79,494,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Price Performance

Shares of NYSE:MTZ opened at $125.38 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The stock has a market capitalization of $9.96 billion, a P/E ratio of -895.57 and a beta of 1.70. The business has a 50-day moving average of $109.05 and a two-hundred day moving average of $102.82. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $127.97.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. On average, equities research analysts predict that MasTec, Inc. will post 2.71 EPS for the current fiscal year.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s 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 sale, the director now directly 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 accessible through the SEC website. 21.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTZ. Stifel Nicolaus raised their price target on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup boosted their price target on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group upped their price target on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial reiterated a “hold” rating and set a $112.00 price objective (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th. Finally, DA Davidson upped their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.50.

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.