Point72 DIFC Ltd Acquires New Shares in MasTec, Inc. (NYSE:MTZ)

Point72 DIFC Ltd bought a new position in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,746 shares of the construction company’s stock, valued at approximately $830,000.

Several other large investors have also modified their holdings of MTZ. Pacer Advisors Inc. raised its position in shares of MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after buying an additional 895,227 shares during the last quarter. Hood River Capital Management LLC increased its stake in MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares during the period. Point72 Asset Management L.P. lifted its position in shares of MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. D1 Capital Partners L.P. acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $79,494,000. Finally, Marshall Wace LLP increased its position in shares of MasTec by 4.3% during the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after purchasing an additional 29,631 shares during the period. 78.10% of the stock is owned by institutional investors.

Insider Activity

In other MasTec news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,823 shares of company stock valued at $7,493,301 over the last 90 days. 21.30% of the stock is owned by company insiders.

MasTec Stock Performance

MTZ stock opened at $141.18 on Friday. The company has a 50 day moving average price of $133.01 and a 200 day moving average price of $117.33. The stock has a market capitalization of $11.19 billion, a PE ratio of 126.05 and a beta of 1.72. MasTec, Inc. has a fifty-two week low of $60.96 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Analyst Ratings Changes

MTZ has been the subject of several research reports. Craig Hallum raised their target price on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. KeyCorp lifted their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird upped their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. B. Riley restated a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. initiated coverage on MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

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.