AQR Capital Management LLC Increases Stock Position in MasTec, Inc. (NYSE:MTZ)

AQR Capital Management LLC increased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 779,472 shares of the construction company’s stock after purchasing an additional 91,564 shares during the period. AQR Capital Management LLC owned 0.98% of MasTec worth $106,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MTZ. New York State Teachers Retirement System raised its stake in MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after acquiring an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock valued at $3,880,000 after acquiring an additional 8,948 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 13,241 shares during the period. Merit Financial Group LLC purchased a new position in MasTec during the fourth quarter worth about $415,000. Finally, CWA Asset Management Group LLC purchased a new position in MasTec during the fourth quarter worth about $485,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

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

MasTec Trading Up 1.1 %

MasTec stock opened at $127.51 on Wednesday. The stock has a 50-day moving average price of $120.08 and a 200 day moving average price of $132.48. MasTec, Inc. has a 52 week low of $86.12 and a 52 week high of $166.95. The stock has a market cap of $10.08 billion, a PE ratio of 113.85 and a beta of 1.62. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTZ. Piper Sandler started coverage on MasTec in a research note on Tuesday, April 8th. They set an “overweight” rating and a $134.00 target price for the company. JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Robert W. Baird decreased their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Barclays increased their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Finally, Truist Financial decreased their price objective on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

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.