Murphy & Mullick Capital Management Corp Takes Position in MasTec, Inc. (NYSE:MTZ)

Murphy & Mullick Capital Management Corp bought a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,120 shares of the construction company’s stock, valued at approximately $152,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its stake in shares of MasTec by 266.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after purchasing an additional 289,090 shares during the last quarter. Point72 Asset Management L.P. boosted its position in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares during the last quarter. Barclays PLC grew its holdings in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after acquiring an additional 209,472 shares during the period. Prudential Financial Inc. grew its holdings in MasTec by 52.4% during the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company’s stock worth $55,162,000 after acquiring an additional 139,235 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of MasTec in the 4th quarter worth about $17,776,000. 78.10% of the stock is owned by institutional investors.

MasTec Stock Performance

Shares of MasTec stock opened at $122.75 on Thursday. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $134.26 and a 200-day moving average price of $133.24. The company has a market cap of $9.73 billion, a PE ratio of 109.60 and a beta of 1.74.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MTZ. JPMorgan Chase & Co. raised their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Truist Financial lifted their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird cut their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Barclays upped 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and an average target price of $160.07.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.30% of the stock is owned by corporate insiders.

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.