Arrowstreet Capital Limited Partnership Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Arrowstreet Capital Limited Partnership bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 440,065 shares of the construction company's stock, valued at approximately $59,910,000. Arrowstreet Capital Limited Partnership owned approximately 0.56% of MasTec at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after acquiring an additional 24,522 shares in the last quarter. Geode Capital Management LLC raised its position in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock worth $94,096,000 after buying an additional 279,778 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MasTec by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock worth $75,787,000 after buying an additional 114,502 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of MasTec by 52.4% during the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock worth $55,162,000 after buying an additional 139,235 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Tuesday, March 25th. Stifel Nicolaus lowered their target price on MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Finally, Wolfe Research began coverage on MasTec in a research report on Monday, March 31st. They issued a "peer perform" rating for the company. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.07.

Insider Buying and Selling at MasTec

In other 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 completion of the sale, the director now owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 21.30% of the company's stock.

MasTec Price Performance

Shares of MasTec stock traded down $6.13 during trading on Friday, hitting $105.87. 2,165,647 shares of the company's stock traded hands, compared to its average volume of 920,211. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market cap of $8.39 billion, a PE ratio of 94.53 and a beta of 1.74. The firm's fifty day moving average price is $128.35 and its 200 day moving average price is $133.67.

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 the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Analysts forecast that MasTec, Inc. will post 3.44 earnings per share 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.