Banco Santander S.A. Buys 6,412 Shares of MasTec, Inc. (NYSE:MTZ)

Key Points

• Banco Santander S.A. increased its stake in MasTec, Inc. by 20.6% in Q1, acquiring an additional 6,412 shares, bringing its total ownership to 37,561 shares valued at approximately $4.38 million.
• Major investment firms have also significantly increased their holdings in MasTec, with Colonial Trust Co SC boosting its stake by 335.7% and Rothschild Investment LLC increasing theirs by over 2,000% during recent quarters.
• MasTec's stock currently holds a consensus rating of “Buy” with an average target price of $179.88, following positive earnings reports and multiple upgrades from analysts, including price target increases to as high as $214.00.

Banco Santander S.A. boosted its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,561 shares of the construction company's stock after acquiring an additional 6,412 shares during the period. Banco Santander S.A.'s holdings in MasTec were worth $4,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its stake in 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 acquiring an additional 141 shares during the period. Rothschild Investment LLC increased its position in shares of MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after purchasing an additional 263 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of MasTec during the first quarter valued at approximately $35,000. Harbor Investment Advisory LLC increased its position in shares of MasTec by 147.1% during the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in MasTec in the 4th quarter valued at $49,000. 78.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of MasTec from a "neutral" rating to a "buy" rating and boosted their price target for the company from $156.00 to $195.00 in a report on Friday, June 6th. Barclays reissued an "overweight" rating and issued a $200.00 target price (up previously from $145.00) on shares of MasTec in a research note on Monday, July 21st. KeyCorp reissued an "overweight" rating and issued a $196.00 target price (up previously from $171.00) on shares of MasTec in a research note on Wednesday, July 16th. Guggenheim reiterated a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $179.88.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares in the company, valued at $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Down 8.0%

Shares of NYSE:MTZ opened at $174.04 on Friday. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $194.00. The company's 50-day moving average price is $169.01 and its two-hundred day moving average price is $145.05. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13.73 billion, a P/E ratio of 51.49 and a beta of 1.83.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.81%. The business had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. MasTec's revenue was up 19.7% compared to the same quarter last year. As a group, research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.