172,190 Shares in MasTec, Inc. (NYSE:MTZ) Bought by Cartenna Capital LP

Cartenna Capital LP acquired a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 172,190 shares of the construction company's stock, valued at approximately $23,442,000. MasTec comprises approximately 1.1% of Cartenna Capital LP's holdings, making the stock its 24th largest position. Cartenna Capital LP owned approximately 0.22% of MasTec at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Ameliora Wealth Management Ltd. purchased a new position in MasTec in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after buying an additional 116 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec during the third quarter worth approximately $25,000. Smartleaf Asset Management LLC increased its stake in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after buying an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after acquiring an additional 190 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of NYSE:MTZ opened at $118.57 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm's 50 day moving average is $120.81 and its two-hundred day moving average is $132.52. The firm has a market capitalization of $9.37 billion, a P/E ratio of 105.87 and a beta of 1.62. MasTec, Inc. has a 52 week low of $83.17 and a 52 week high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. Analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MTZ shares. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Guggenheim reissued a "buy" rating and issued a $195.00 price objective on shares of MasTec in a report on Tuesday, March 25th. Barclays increased their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Truist Financial decreased their target price on MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and an average price target of $152.00.

Insider Buying and Selling

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.30% of the company's stock.

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.

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