Interval Partners LP Takes Position in MasTec, Inc. (NYSE:MTZ)

Interval Partners LP purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the first quarter, according to its most recent filing with the SEC. The firm purchased 45,365 shares of the construction company’s stock, valued at approximately $4,230,000. Interval Partners LP owned 0.06% of MasTec at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in shares of MasTec by 64.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,104 shares of the construction company’s stock valued at $841,000 after acquiring an additional 4,336 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of MasTec in the fourth quarter valued at $883,000. Asset Management One Co. Ltd. lifted its position in shares of MasTec by 10.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 44,381 shares of the construction company’s stock valued at $3,355,000 after acquiring an additional 4,229 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of MasTec by 6,849.8% in the fourth quarter. International Assets Investment Management LLC now owns 79,506 shares of the construction company’s stock valued at $6,020,000 after acquiring an additional 78,362 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of MasTec by 909.8% in the fourth quarter. Peregrine Capital Management LLC now owns 136,852 shares of the construction company’s stock valued at $10,362,000 after acquiring an additional 123,299 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now directly owns 10,666 shares in the company, valued at approximately $1,137,742.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the transaction, the director now owns 10,666 shares in the company, valued at $1,137,742.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the sale, the director now directly owns 50,725 shares of the company’s stock, valued at approximately $5,579,750. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MTZ shares. Craig Hallum increased their target price on MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Robert W. Baird raised their price objective on MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. KeyCorp increased their target price on MasTec from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. StockNews.com upgraded MasTec from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Finally, The Goldman Sachs Group increased their target price on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.62.

MasTec Stock Performance

MasTec stock traded up $4.75 during mid-day trading on Wednesday, hitting $111.12. 637,464 shares of the company’s stock traded hands, compared to its average volume of 865,586. The firm has a 50 day moving average price of $107.51 and a 200 day moving average price of $92.39. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The company has a market cap of $8.83 billion, a PE ratio of -792.14 and a beta of 1.65. MasTec, Inc. has a one year low of $44.65 and a one year high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.33. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. On average, equities analysts forecast that MasTec, Inc. will post 2.59 EPS 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.