Lecap Asset Management Ltd. Makes New $901,000 Investment in MasTec, Inc. (NYSE:MTZ)

Lecap Asset Management Ltd. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,318 shares of the construction company’s stock, valued at approximately $901,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its stake in MasTec by 41.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,222 shares of the construction company’s stock worth $320,000 after buying an additional 1,231 shares in the last quarter. Bouvel Investment Partners LLC boosted its position in MasTec by 2.5% during the 1st quarter. Bouvel Investment Partners LLC now owns 19,999 shares of the construction company’s stock worth $1,865,000 after buying an additional 494 shares during the period. State of Michigan Retirement System boosted its position in MasTec by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 14,839 shares of the construction company’s stock worth $1,384,000 after buying an additional 300 shares during the period. DMC Group LLC boosted its position in MasTec by 5.5% during the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after buying an additional 147 shares during the period. Finally, Principal Financial Group Inc. boosted its position in MasTec by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 227,714 shares of the construction company’s stock worth $21,234,000 after buying an additional 5,682 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

Shares of NYSE:MTZ opened at $122.32 on Thursday. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22. The business has a fifty day moving average price of $117.54 and a 200-day moving average price of $108.19. The company has a market capitalization of $9.72 billion, a PE ratio of -873.71 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share 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 firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that MasTec, Inc. will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. B. Riley boosted their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial boosted their price target on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group boosted their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp upped their target price on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.00.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $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 have sold a total of 23,800 shares of company stock valued at $2,978,212 in the last quarter. 21.30% of the stock is currently owned by insiders.

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.