Semanteon Capital Management LP Acquires Shares of 7,124 MasTec, Inc. (NYSE:MTZ)

Semanteon Capital Management LP bought a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,124 shares of the construction company’s stock, valued at approximately $877,000.

Other institutional investors have also made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the second quarter valued at $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec during the second quarter worth approximately $40,000. GAMMA Investing LLC grew its position in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. UMB Bank n.a. increased its stake in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. lifted its holdings in MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MTZ shares. KeyCorp increased their price objective on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus target price of $134.00.

MasTec Price Performance

Shares of MTZ traded up $2.49 during mid-day trading on Monday, reaching $124.44. The company had a trading volume of 10,268 shares, compared to its average volume of 839,070. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of -871.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The company’s 50 day simple moving average is $118.00 and its 200 day simple moving average is $108.72. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Analysts expect that MasTec, Inc. will post 2.69 EPS for the current year.

Insiders Place Their Bets

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 transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $2,978,212 in the last 90 days. Corporate insiders own 21.30% of the company’s stock.

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.