Abacus FCF Advisors LLC Makes New $996,000 Investment in MasTec, Inc. (NYSE:MTZ)

Abacus FCF Advisors LLC acquired a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,319 shares of the construction company's stock, valued at approximately $996,000.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of MasTec during the 4th quarter worth about $16,571,000. Bank of Nova Scotia bought a new position in MasTec during the fourth quarter valued at approximately $7,136,000. Shelton Capital Management lifted its stake in MasTec by 49.3% in the fourth quarter. Shelton Capital Management now owns 15,322 shares of the construction company's stock valued at $2,086,000 after acquiring an additional 5,060 shares during the last quarter. Cerity Partners LLC grew its position in MasTec by 4.8% in the fourth quarter. Cerity Partners LLC now owns 24,253 shares of the construction company's stock worth $3,278,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in MasTec by 16.9% in the fourth quarter. Federated Hermes Inc. now owns 8,886 shares of the construction company's stock worth $1,210,000 after acquiring an additional 1,287 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on shares of MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Guggenheim reaffirmed a "buy" rating and issued a $195.00 price target on shares of MasTec in a research report on Tuesday, March 25th. Truist Financial decreased their price target on MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Citigroup boosted their target price on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Finally, Barclays upped their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.87.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.30% of the company's stock.

MasTec Price Performance

NYSE MTZ traded up $0.81 on Monday, reaching $117.79. The company's stock had a trading volume of 128,494 shares, compared to its average volume of 1,222,603. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. 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 has a market cap of $9.34 billion, a PE ratio of 105.17 and a beta of 1.62. The business has a 50-day moving average price of $124.67 and a 200 day moving average price of $133.08.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts expect that MasTec, Inc. will post 3.44 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.