Frontier Capital Management Co. LLC Has $78.89 Million Stake in MasTec, Inc. (NYSE:MTZ)

Frontier Capital Management Co. LLC grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 42.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,041,868 shares of the construction company’s stock after buying an additional 312,991 shares during the period. MasTec makes up 0.8% of Frontier Capital Management Co. LLC’s investment portfolio, making the stock its 28th biggest holding. Frontier Capital Management Co. LLC’s holdings in MasTec were worth $78,890,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB increased its stake in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after acquiring an additional 1,027,085 shares during the period. CI Investments Inc. grew its holdings in shares of MasTec by 44,834.1% during the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock worth $57,434,000 after purchasing an additional 796,253 shares in the last quarter. Norges Bank bought a new stake in shares of MasTec during the fourth quarter valued at approximately $46,970,000. Schonfeld Strategic Advisors LLC raised its stake in shares of MasTec by 7,110.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock valued at $25,848,000 after purchasing an additional 354,163 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in MasTec by 95.0% in the fourth quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock worth $46,556,000 after purchasing an additional 299,567 shares during the period. Institutional investors own 78.10% of the company’s stock.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the sale, the director now owns 50,725 shares in the company, valued at $5,579,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Javier Alberto Palomarez sold 2,850 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the director now directly owns 50,725 shares of the company’s stock, valued at approximately $5,579,750. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of NYSE:MTZ traded down $2.43 during midday trading on Tuesday, reaching $106.52. The company’s stock had a trading volume of 99,737 shares, compared to its average volume of 884,696. The business’s fifty day simple moving average is $99.30 and its 200-day simple moving average is $82.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The company has a market capitalization of $8.46 billion, a P/E ratio of -777.64 and a beta of 1.66.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. As a group, equities research analysts expect that MasTec, Inc. will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTZ has been the topic of several analyst reports. KeyCorp boosted their price target on shares of MasTec from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Craig Hallum increased their price target on shares of MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Stifel Nicolaus lifted their price objective on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 6th. Truist Financial reiterated a “hold” rating and issued a $109.00 price objective (up from $96.00) on shares of MasTec in a research note on Monday, May 6th. Finally, DA Davidson raised their target price on MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average price target of $116.23.

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.