Boothbay Fund Management LLC Increases Holdings in MasTec, Inc. (NYSE:MTZ)

Boothbay Fund Management LLC boosted its position in MasTec, Inc. (NYSE:MTZ) by 208.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,488 shares of the construction company’s stock after buying an additional 27,363 shares during the period. Boothbay Fund Management LLC owned approximately 0.05% of MasTec worth $5,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MTZ. Barclays PLC boosted its holdings in shares of MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Virtu Financial LLC purchased a new stake in MasTec in the third quarter valued at $254,000. Wilmington Savings Fund Society FSB purchased a new stake in MasTec in the third quarter valued at $25,000. Blankinship & Foster LLC acquired a new stake in MasTec during the 3rd quarter worth about $246,000. Finally, Tidal Investments LLC raised its stake in shares of MasTec by 5.7% during the 3rd quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock valued at $1,343,000 after buying an additional 585 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on MTZ shares. Guggenheim reaffirmed a “buy” rating and set a $195.00 target price on shares of MasTec in a report on Tuesday, March 25th. Stifel Nicolaus dropped their price objective on shares of MasTec from $175.00 to $143.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Robert W. Baird lowered their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Barclays lifted their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

MasTec Price Performance

Shares of MasTec stock opened at $125.09 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50 day simple moving average of $120.35 and a two-hundred day simple moving average of $132.48. The stock has a market capitalization of $9.89 billion, a P/E ratio of 111.69 and a beta of 1.62. MasTec, Inc. has a 12 month low of $86.12 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.