2,661 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,661 shares of the construction company's stock, valued at approximately $311,000.

A number of other hedge funds have also recently modified their holdings of the stock. Linden Thomas Advisory Services LLC boosted its stake in shares of MasTec by 2.5% in the first quarter. Linden Thomas Advisory Services LLC now owns 6,007 shares of the construction company's stock worth $701,000 after buying an additional 145 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of MasTec by 71.7% in the first quarter. Stratos Wealth Partners LTD. now owns 2,626 shares of the construction company's stock worth $307,000 after buying an additional 1,097 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of MasTec by 56.7% in the first quarter. Crossmark Global Holdings Inc. now owns 19,426 shares of the construction company's stock worth $2,267,000 after buying an additional 7,029 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of MasTec in the first quarter worth about $334,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of MasTec by 32.2% in the first quarter. Envestnet Asset Management Inc. now owns 45,736 shares of the construction company's stock worth $5,338,000 after buying an additional 11,143 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTZ. Wall Street Zen cut MasTec from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. The Goldman Sachs Group raised MasTec from a "neutral" rating to a "buy" rating and upped their price target for the stock from $156.00 to $195.00 in a report on Friday, June 6th. Citigroup upped their price target on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Jefferies Financial Group began coverage on MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 price target for the company. Finally, Stifel Nicolaus upped their price target on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $169.29.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.30% of the company's stock.

MasTec Price Performance

Shares of MTZ stock traded up $1.48 during trading hours on Friday, reaching $170.25. The company had a trading volume of 539,455 shares, compared to its average volume of 946,119. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. The stock has a fifty day moving average of $160.66 and a 200-day moving average of $141.23. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 62.59 and a beta of 1.75. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $173.24.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The business's revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) earnings per share. On average, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current 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.