NewEdge Advisors LLC Boosts Stake in MasTec, Inc. (NYSE:MTZ)

NewEdge Advisors LLC increased its position in MasTec, Inc. (NYSE:MTZ) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,325 shares of the construction company’s stock after buying an additional 462 shares during the period. NewEdge Advisors LLC’s holdings in MasTec were worth $453,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ameliora Wealth Management Ltd. purchased a new stake in MasTec during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its position in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in MasTec during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its position in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after purchasing an additional 128 shares during the period. Finally, Global Retirement Partners LLC raised its position in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup decreased their price objective on MasTec from $167.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday. B. Riley reaffirmed a “buy” rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. KeyCorp cut their target price on MasTec from $168.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Barclays upped their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.00.

MasTec Stock Up 0.9 %

NYSE MTZ opened at $126.22 on Tuesday. The business has a fifty day moving average price of $120.17 and a 200 day moving average price of $132.51. MasTec, Inc. has a one year low of $86.12 and a one year high of $166.95. 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 company has a market cap of $9.98 billion, a P/E ratio of 112.70 and a beta of 1.62.

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

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.