Interval Partners LP Acquires New Position in MasTec, Inc. (NYSE:MTZ)

Interval Partners LP acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the first quarter, Holdings Channel reports. The firm acquired 45,365 shares of the construction company’s stock, valued at approximately $4,230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTZ. Point72 Asset Management L.P. raised its holdings in shares of MasTec by 96.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after purchasing an additional 502,039 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of MasTec by 16.2% in the 4th quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock valued at $78,454,000 after purchasing an additional 144,180 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in shares of MasTec by 25.6% in the 4th quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after purchasing an additional 21,564 shares in the last quarter. 1492 Capital Management LLC bought a new stake in shares of MasTec in the 4th quarter valued at about $1,059,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of MasTec by 5.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock valued at $25,975,000 after purchasing an additional 18,402 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of analyst reports. Craig Hallum lifted their price objective on shares of MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. DA Davidson lifted their price objective on shares of MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. B. Riley reaffirmed a “buy” rating and issued a $132.00 price objective on shares of MasTec in a research report on Thursday, June 27th. Robert W. Baird boosted their target price on shares of MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Finally, KeyCorp boosted their target price on shares of MasTec from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.62.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the sale, the director now owns 50,725 shares of the company’s stock, valued at $5,579,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Javier Alberto Palomarez sold 2,850 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the sale, the director now owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the director now directly owns 50,725 shares in the company, valued at approximately $5,579,750. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

MasTec Price Performance

NYSE:MTZ traded up $4.75 during trading hours on Wednesday, reaching $111.12. 637,464 shares of the company were exchanged, compared to its average volume of 865,586. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The stock’s 50-day moving average is $107.51 and its 200-day moving average is $92.39. The firm has a market cap of $8.83 billion, a PE ratio of -792.14 and a beta of 1.65. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. On average, sell-side analysts anticipate that MasTec, Inc. will post 2.59 earnings per share for the current fiscal year.

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.