Point72 Asia Singapore Pte. Ltd. Invests $86,000 in MasTec, Inc. (NYSE:MTZ)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in MasTec, Inc. (NYSE:MTZ) during the second quarter, Holdings Channel reports. The institutional investor purchased 800 shares of the construction company’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MTZ. Hobbs Group Advisors LLC bought a new stake in MasTec in the second quarter valued at approximately $27,000. Quarry LP acquired a new position in shares of MasTec in the 4th quarter valued at $37,000. GAMMA Investing LLC increased its position in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after buying an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in MasTec during the 2nd quarter worth $40,000. Finally, Bessemer Group Inc. lifted its holdings in MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MTZ. B. Riley increased their price target on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. DA Davidson increased their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup lifted their price target on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus upped their price target on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Truist Financial restated a “hold” rating and set a $112.00 price objective (up from $109.00) on shares of MasTec in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average target price of $117.50.

MasTec Stock Performance

NYSE MTZ opened at $127.04 on Friday. The firm has a 50-day moving average price of $112.21 and a two-hundred day moving average price of $104.90. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $129.49. The company has a market capitalization of $10.09 billion, a P/E ratio of -907.43 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that MasTec, Inc. will post 2.71 earnings per share for the current year.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

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.