Bank of New York Mellon Corp Has $65.44 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Bank of New York Mellon Corp grew its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 560,710 shares of the construction company's stock after acquiring an additional 4,024 shares during the period. Bank of New York Mellon Corp owned about 0.71% of MasTec worth $65,440,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC bought a new position in shares of MasTec during the fourth quarter worth about $227,000. Jones Financial Companies Lllp lifted its position in shares of MasTec by 97.4% during the fourth quarter. Jones Financial Companies Lllp now owns 377 shares of the construction company's stock worth $51,000 after purchasing an additional 186 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of MasTec by 69.8% during the fourth quarter. Victory Capital Management Inc. now owns 21,834 shares of the construction company's stock worth $2,972,000 after purchasing an additional 8,976 shares during the last quarter. Atria Investments Inc lifted its position in shares of MasTec by 35.1% during the fourth quarter. Atria Investments Inc now owns 3,314 shares of the construction company's stock worth $451,000 after purchasing an additional 861 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of MasTec during the fourth quarter worth about $5,171,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Trading Up 0.9%

MTZ stock traded up $1.48 during midday trading on Friday, reaching $170.25. The company's stock had a trading volume of 539,455 shares, compared to its average volume of 945,489. MasTec, Inc. has a 52 week low of $89.96 and a 52 week high of $173.24. The stock has a market cap of $13.43 billion, a PE ratio of 62.59 and a beta of 1.75. 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 business's 50-day simple moving average is $160.66 and its 200-day simple moving average is $141.19.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned ($0.13) earnings per share. As a group, sell-side analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director directly owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock. Stifel Nicolaus raised their target price on shares of MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen cut shares of MasTec from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Guggenheim reissued a "buy" rating and issued a $195.00 target price on shares of MasTec in a report on Monday, May 5th. Finally, Piper Sandler raised 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. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $169.29.

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.