Assenagon Asset Management S.A. Increases Position in MasTec, Inc. (NYSE:MTZ)

Assenagon Asset Management S.A. increased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 31.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,482 shares of the construction company’s stock after purchasing an additional 77,976 shares during the quarter. Assenagon Asset Management S.A.’s holdings in MasTec were worth $40,190,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in shares of MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after acquiring an additional 446,762 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in MasTec during the second quarter valued at approximately $79,494,000. Marshall Wace LLP boosted its stake in MasTec by 4.3% in the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after acquiring an additional 29,631 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in MasTec by 6.3% in the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock worth $65,414,000 after purchasing an additional 31,266 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction 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 sale, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock worth $2,978,212 in the last three months. Company insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. B. Riley raised their price objective on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price target on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial increased their price objective on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. DA Davidson boosted their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus raised their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.00.

MasTec Stock Performance

NYSE MTZ opened at $122.53 on Friday. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $130.22. 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 firm has a market capitalization of $9.74 billion, a P/E ratio of -875.21 and a beta of 1.70. The stock has a 50-day simple moving average of $117.77 and a two-hundred day simple moving average of $108.29.

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