22,035 Shares in MasTec, Inc. (NYSE:MTZ) Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,035 shares of the construction company's stock, valued at approximately $3,000,000.

A number of other large investors have also made changes to their positions in MTZ. Trexquant Investment LP grew its position in MasTec by 37.0% during the fourth quarter. Trexquant Investment LP now owns 131,878 shares of the construction company's stock worth $17,954,000 after buying an additional 35,638 shares during the period. National Bank of Canada FI acquired a new stake in shares of MasTec in the 4th quarter worth approximately $1,988,000. Franklin Resources Inc. purchased a new position in MasTec in the 4th quarter valued at approximately $1,191,000. O Shaughnessy Asset Management LLC raised its holdings in MasTec by 13.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,020 shares of the construction company's stock worth $1,092,000 after purchasing an additional 963 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in MasTec during the fourth quarter worth $59,910,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Up 1.5 %

Shares of MTZ stock traded up $1.77 on Friday, hitting $116.83. The stock had a trading volume of 817,547 shares, compared to its average volume of 935,435. The stock's 50 day moving average is $124.67 and its 200-day moving average is $133.01. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 104.31 and a beta of 1.62. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. The business 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%. As a group, research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the company'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 directly owns 23,000 shares of the company's stock, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTZ. Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. B. Riley reissued a "buy" rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Piper Sandler assumed coverage on shares of MasTec in a report on Tuesday. They issued an "overweight" rating and a $134.00 price target on the stock. Stifel Nicolaus dropped their price objective on MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wolfe Research started coverage on MasTec in a report on Monday, March 31st. They issued a "peer perform" rating on the stock. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.87.

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.