Cooper Creek Partners Management LLC Cuts Stake in MasTec, Inc. (NYSE:MTZ)

Cooper Creek Partners Management LLC cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 58.0% during the 4th quarter, HoldingsChannel reports. The fund owned 317,966 shares of the construction company’s stock after selling 439,926 shares during the quarter. MasTec makes up 1.3% of Cooper Creek Partners Management LLC’s investment portfolio, making the stock its 23rd biggest position. Cooper Creek Partners Management LLC’s holdings in MasTec were worth $43,288,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTZ. Rockefeller Capital Management L.P. raised its position in MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock worth $1,883,000 after purchasing an additional 105 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of MasTec by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 27,550 shares of the construction company’s stock valued at $3,751,000 after buying an additional 170 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MasTec in the fourth quarter worth about $17,776,000. Abacus FCF Advisors LLC bought a new stake in shares of MasTec in the 4th quarter valued at about $996,000. Finally, Renaissance Technologies LLC purchased a new stake in MasTec during the 4th quarter valued at about $16,571,000. 78.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.30% of the company’s stock.

MasTec Trading Up 1.5 %

MTZ opened at $116.83 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The stock has a market cap of $9.26 billion, a PE ratio of 104.31 and a beta of 1.62. The business has a 50 day moving average of $124.67 and a 200-day moving average of $133.01.

MasTec (NYSE:MTZ) last announced 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. 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 research analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. KeyCorp lifted their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial lowered their price target on shares of MasTec from $197.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Guggenheim reissued a “buy” rating and set a $195.00 price target on shares of MasTec in a research report on Tuesday, March 25th. Robert W. Baird decreased their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Piper Sandler began coverage on shares of MasTec in a report on Tuesday, April 8th. They set an “overweight” rating and a $134.00 target price for the company. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.87.

MasTec 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.