Point72 Asia Singapore Pte. Ltd. Increases Stake in MasTec, Inc. (NYSE:MTZ)

Point72 Asia Singapore Pte. Ltd. grew its stake in MasTec, Inc. (NYSE:MTZ) by 166.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,129 shares of the construction company’s stock after purchasing an additional 1,329 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in MasTec were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners acquired a new position in shares of MasTec in the 1st quarter valued at $748,000. Texas Permanent School Fund Corp raised its position in shares of MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after acquiring an additional 4,716 shares during the period. Makena Capital Management LLC boosted its stake in shares of MasTec by 41.4% during the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock worth $10,728,000 after acquiring an additional 25,532 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MasTec during the 3rd quarter valued at about $1,470,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after acquiring an additional 7,469 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of recent analyst reports. TD Cowen increased their price target on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. B. Riley reiterated a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup increased their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,823 shares of company stock worth $7,493,301 in the last quarter. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

NYSE:MTZ opened at $143.37 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a 50 day moving average price of $132.25 and a 200 day moving average price of $116.98. The stock has a market cap of $11.36 billion, a PE ratio of 128.01 and a beta of 1.72. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12.

About MasTec

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.