Semanteon Capital Management LP Takes $877,000 Position in MasTec, Inc. (NYSE:MTZ)

Semanteon Capital Management LP bought a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 7,124 shares of the construction company’s stock, valued at approximately $877,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTZ. Susquehanna Fundamental Investments LLC acquired a new stake in MasTec during the first quarter valued at approximately $785,000. Swedbank AB bought a new position in shares of MasTec in the first quarter valued at about $5,287,000. Interval Partners LP acquired a new position in MasTec during the 1st quarter worth about $4,230,000. Boston Partners acquired a new position in MasTec during the 1st quarter worth about $748,000. Finally, Texas Permanent School Fund Corp grew its holdings in MasTec by 8.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after acquiring an additional 4,716 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

MTZ has been the topic of a number of research reports. Truist Financial upped their target price on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup increased their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. KeyCorp boosted their target price on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Finally, UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average price target of $134.00.

MasTec Trading Up 2.0 %

Shares of NYSE MTZ traded up $2.49 during midday trading on Monday, reaching $124.44. 10,268 shares of the stock were exchanged, compared to its average volume of 839,070. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $130.22. The business has a 50-day simple moving average of $118.00 and a two-hundred day simple moving average of $108.72. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of -871.07 and a beta of 1.70.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts expect that MasTec, Inc. will post 2.69 EPS for the current year.

Insider Activity

In related news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock worth $2,978,212 over the last quarter. 21.30% of the stock is currently owned by company insiders.

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.