Lisanti Capital Growth LLC Purchases New Holdings in MasTec, Inc. (NYSE:MTZ)

Lisanti Capital Growth LLC acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,785 shares of the construction company’s stock, valued at approximately $3,508,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Electron Capital Partners LLC boosted its position in shares of MasTec by 16.1% in the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of MasTec by 42.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after acquiring an additional 502,039 shares in the last quarter. Norges Bank purchased a new position in shares of MasTec in the 4th quarter worth about $46,970,000. Finally, Schroder Investment Management Group boosted its stake in MasTec by 95.0% in the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock worth $46,556,000 after purchasing an additional 299,567 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MasTec stock traded up $2.31 during trading hours on Friday, reaching $113.13. 554,786 shares of the stock traded hands, compared to its average volume of 695,530. The company has a 50 day moving average price of $107.04 and a 200 day moving average price of $98.81. MasTec, Inc. has a one year low of $44.65 and a one year high of $113.69. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. On average, equities research analysts predict that MasTec, Inc. will post 2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MTZ shares. B. Riley lifted their target price on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays boosted their price objective on shares of MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. TD Cowen increased their target price on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group boosted their price target on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, Citigroup upped their price target on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $117.50.

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.