Neo Ivy Capital Management Purchases 1,213 Shares of MasTec, Inc. (NYSE:MTZ)

Neo Ivy Capital Management lifted its position in MasTec, Inc. (NYSE:MTZFree Report) by 891.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349 shares of the construction company’s stock after acquiring an additional 1,213 shares during the quarter. Neo Ivy Capital Management’s holdings in MasTec were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in MasTec during the 4th quarter valued at about $37,000. Itau Unibanco Holding S.A. bought a new position in shares of MasTec during the third quarter valued at approximately $43,000. CWM LLC raised its stake in MasTec by 59.4% in the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after buying an additional 312 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after buying an additional 212 shares during the period. Finally, TFO Wealth Partners LLC increased its holdings in shares of MasTec by 69,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,097 shares of the construction company’s stock valued at $159,000 after acquiring an additional 2,094 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Citigroup lifted their price objective on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. DA Davidson increased their target price on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Barclays lifted their price target on shares of MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Stifel Nicolaus increased their price objective on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.23.

Read Our Latest Report on MasTec

Insider Activity

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

MasTec Stock Performance

MTZ traded down $1.68 on Friday, reaching $107.71. 332,394 shares of the stock were exchanged, compared to its average volume of 633,585. The company’s 50-day moving average price is $100.53 and its 200 day moving average price is $84.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market capitalization of $8.56 billion, a PE ratio of -770.00 and a beta of 1.67. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $123.33.

MasTec (NYSE:MTZGet Free Report) last released its earnings results on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. As a group, sell-side analysts forecast that MasTec, Inc. will post 2.58 EPS for the current fiscal year.

MasTec Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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