Covalis Capital LLP Takes Position in MasTec, Inc. (NYSE:MTZ)

Covalis Capital LLP purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 50,229 shares of the construction company's stock, valued at approximately $6,838,000. Covalis Capital LLP owned approximately 0.06% of MasTec as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of MasTec in the 4th quarter valued at approximately $59,910,000. First Trust Advisors LP boosted its holdings in shares of MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after buying an additional 373,145 shares in the last quarter. Barclays PLC grew its position in shares of MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after buying an additional 209,472 shares during the period. Prudential Financial Inc. lifted its position in MasTec by 52.4% during the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock valued at $55,162,000 after acquiring an additional 139,235 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in MasTec during the fourth quarter worth about $17,776,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Price Performance

Shares of NYSE MTZ traded up $4.44 during mid-day trading on Thursday, hitting $122.85. 157,113 shares of the company's stock traded hands, compared to its average volume of 1,184,374. The company's 50-day moving average is $120.81 and its two-hundred day moving average is $132.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1 year low of $83.17 and a 1 year high of $166.95. The company has a market capitalization of $9.71 billion, a P/E ratio of 109.68 and a beta of 1.62.

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. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, equities analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted 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. Stifel Nicolaus lowered their price target on MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Robert W. Baird cut their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Barclays upped their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Finally, KeyCorp lowered their price objective on MasTec from $168.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Three 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 company has a consensus rating of "Moderate Buy" and an average price target of $152.00.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.30% of the company's stock.

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.