State of Wyoming Has $2.70 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

State of Wyoming increased its holdings in MasTec, Inc. (NYSE:MTZ) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,815 shares of the construction company’s stock after buying an additional 2,373 shares during the quarter. MasTec comprises approximately 0.3% of State of Wyoming’s portfolio, making the stock its 21st largest holding. State of Wyoming’s holdings in MasTec were worth $2,698,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new stake in MasTec during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 1.4%

MTZ opened at $157.80 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company’s 50-day moving average is $126.20 and its 200 day moving average is $134.51. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The firm has a market capitalization of $12.45 billion, a P/E ratio of 140.89 and a beta of 1.71.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now directly owns 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MTZ. KeyCorp increased their price objective on shares of MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Barclays lifted their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on shares of MasTec from $143.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Citigroup lifted their price objective on shares of MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Piper Sandler lifted their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $162.06.

MasTec Company 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.