Blue Bell Private Wealth Management LLC purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,536 shares of the construction company's stock, valued at approximately $179,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC raised its holdings in shares of MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock worth $208,444,000 after buying an additional 51,531 shares during the period. AQR Capital Management LLC raised its holdings in shares of MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock worth $106,117,000 after buying an additional 91,564 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after buying an additional 363,502 shares during the period. First Trust Advisors LP raised its holdings in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after buying an additional 373,145 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of MasTec by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock worth $65,440,000 after buying an additional 4,024 shares during the period. 78.10% of the stock is owned by institutional investors.
MasTec Stock Performance
Shares of MTZ stock opened at $177.93 on Monday. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 65.42 and a beta of 1.75. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. The business has a fifty day moving average of $163.55 and a 200 day moving average of $142.56. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $179.15.
MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results 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. The company 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 firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) EPS. As a group, research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.
Insider Transactions at MasTec
In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated 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 transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on MTZ shares. Truist Financial increased their price target on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. The Goldman Sachs Group raised MasTec from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Wolfe Research started coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Piper Sandler increased their price objective on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus increased their price objective on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $171.24.
Read Our Latest Stock Report on MTZ
About MasTec
(
Free Report)
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.
See Also
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).

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