Swedbank AB Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Swedbank AB acquired a new position in MasTec, Inc. (NYSE:MTZ) during the first quarter, HoldingsChannel reports. The institutional investor acquired 56,700 shares of the construction company’s stock, valued at approximately $5,287,000.

Several other large investors have also recently modified their holdings of MTZ. Norges Bank bought a new position in shares of MasTec during the 4th quarter valued at approximately $46,970,000. Point72 Asset Management L.P. lifted its holdings in shares of MasTec by 96.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after buying an additional 502,039 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares in the last quarter. Schroder Investment Management Group raised its position in shares of MasTec by 95.0% in the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock worth $46,556,000 after acquiring an additional 299,567 shares in the last quarter. Finally, Electron Capital Partners LLC raised its position in shares of MasTec by 16.1% in the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after acquiring an additional 238,874 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

MTZ has been the subject of several recent research reports. TD Cowen boosted their price target on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Citigroup upped their target price on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Craig Hallum increased their price objective on MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 6th. Robert W. Baird increased their price objective on MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Finally, The Goldman Sachs Group upped their target price on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.62.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the firm’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 of the company’s stock, valued at $5,579,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director C Robert Campbell sold 2,000 shares of the firm’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 transaction, the director now directly owns 50,725 shares in the company, valued at $5,579,750. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Javier Alberto Palomarez sold 2,850 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

MasTec Price Performance

Shares of NYSE:MTZ traded down $3.94 during midday trading on Friday, hitting $102.18. The company had a trading volume of 2,005,031 shares, compared to its average volume of 882,374. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of -730.86 and a beta of 1.65. The business’s 50-day simple moving average is $107.24 and its 200-day simple moving average is $92.82.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.33. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. MasTec had a return on equity of 6.44% and a net margin of 0.06%. On average, research analysts predict that MasTec, Inc. will post 2.59 earnings per share for the current year.

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.