Swedbank AB Acquires New Holdings in MasTec, Inc. (NYSE:MTZ)

Swedbank AB acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 56,700 shares of the construction company’s stock, valued at approximately $5,287,000. Swedbank AB owned 0.07% of MasTec as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MTZ. Norges Bank acquired a new position in MasTec during the fourth quarter valued at approximately $46,970,000. Point72 Asset Management L.P. grew its holdings in 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 purchasing an additional 502,039 shares during the period. Frontier Capital Management Co. LLC grew its holdings in MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares during the period. Schroder Investment Management Group grew its holdings in MasTec by 95.0% during the fourth quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock valued at $46,556,000 after purchasing an additional 299,567 shares during the period. Finally, Electron Capital Partners LLC lifted its stake in MasTec by 16.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after buying an additional 238,874 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Down 3.7 %

MTZ traded down $3.94 during trading on Friday, reaching $102.18. 2,005,031 shares of the stock were exchanged, compared to its average volume of 882,374. The stock has a market cap of $8.12 billion, a P/E ratio of -730.86 and a beta of 1.65. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The stock’s 50 day moving average price is $107.24 and its two-hundred day moving average price is $92.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.62 billion. MasTec had a net margin of 0.06% and a return on equity of 6.44%. Equities analysts expect that MasTec, Inc. will post 2.59 EPS for the current year.

Insider Buying and Selling

In related news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.67, for a total transaction of $304,009.50. Following the transaction, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The sale was disclosed in a filing with the SEC, which is available through this link. In other MasTec news, Director C Robert Campbell sold 2,000 shares of the company’s 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 transaction, the director now directly owns 50,725 shares in the company, valued at $5,579,750. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Javier Alberto Palomarez sold 2,850 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.67, for a total transaction of $304,009.50. Following the completion of the transaction, the director now owns 10,666 shares in the company, valued at $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MTZ shares. Stifel Nicolaus lifted their price target on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Barclays lifted their price target on shares of MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. B. Riley reaffirmed a “buy” rating and issued a $132.00 price target on shares of MasTec in a research note on Thursday, June 27th. StockNews.com raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Finally, Craig Hallum lifted their price target on shares of MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and a consensus price target of $117.62.

About MasTec

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.