Legato Capital Management LLC Buys 3,435 Shares of MasTec, Inc. (NYSE:MTZ)

Legato Capital Management LLC boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 34.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,409 shares of the construction company’s stock after buying an additional 3,435 shares during the quarter. Legato Capital Management LLC’s holdings in MasTec were worth $1,435,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Electron Capital Partners LLC raised its holdings in shares of MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after acquiring an additional 238,874 shares during the period. Frontier Capital Management Co. LLC increased its holdings in shares of MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $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% in the 4th 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 during the last quarter. Norges Bank bought a new position in MasTec during the 4th quarter worth $46,970,000. Finally, Schroder Investment Management Group grew its stake in MasTec by 95.0% during the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock worth $46,556,000 after buying an additional 299,567 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on MTZ. KeyCorp upped their target price on MasTec from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. StockNews.com upgraded MasTec from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. TD Cowen upped their target price on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Truist Financial restated a “hold” rating and set a $112.00 price target (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

MasTec Price Performance

Shares of MTZ traded down $0.31 during trading hours on Tuesday, reaching $110.57. The company had a trading volume of 155,800 shares, compared to its average volume of 857,377. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $113.69. The firm has a 50 day simple moving average of $107.00 and a 200-day simple moving average of $97.90. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -791.29 and a beta of 1.65.

MasTec (NYSE:MTZ) last announced its quarterly earnings results 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 6.44% 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 prior year, the business posted $0.81 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Research analysts expect that MasTec, Inc. will post 2.59 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.