KLP Kapitalforvaltning AS Takes Position in MasTec, Inc. (NYSE:MTZ)

KLP Kapitalforvaltning AS purchased a new stake in MasTec, Inc. (NYSE:MTZ) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 12,900 shares of the construction company’s stock, valued at approximately $1,756,000.

Several other large investors have also recently added to or reduced their stakes in MTZ. Charles Schwab Investment Management Inc. raised its stake in MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after purchasing an additional 7,469 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of MasTec in the 3rd quarter valued at approximately $276,000. Cerity Partners LLC raised its position in shares of MasTec by 285.4% in the 3rd quarter. Cerity Partners LLC now owns 23,151 shares of the construction company’s stock valued at $2,850,000 after buying an additional 17,144 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of MasTec during the 3rd quarter worth approximately $405,000. Finally, FMR LLC boosted its position in shares of MasTec by 18.1% during the 3rd quarter. FMR LLC now owns 3,382 shares of the construction company’s stock worth $416,000 after acquiring an additional 518 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 3.3 %

MasTec stock opened at $118.70 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a market cap of $9.41 billion, a PE ratio of 105.98 and a beta of 1.74. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The firm’s 50-day simple moving average is $133.53 and its 200 day simple moving average is $133.14.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Research analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Guggenheim reissued a “buy” rating and issued a $195.00 price objective on shares of MasTec in a research note on Tuesday. B. Riley reaffirmed a “buy” rating and set a $165.00 target price (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Finally, Robert W. Baird reduced their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $160.07.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.30% of the company’s stock.

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.