1,926 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC has invested $225,000 in MasTec, Inc. by acquiring 1,926 shares during the first quarter.
• MasTec reported $1.49 EPS for the latest quarter, exceeding analysts' expectations, with a revenue of $3.55 billion, marking a 19.7% increase compared to the previous year.
• Analysts have maintained a positive outlook on MasTec, with target prices raised to as high as $210.00 and an average rating of "Buy" across multiple reports.

Blueshift Asset Management LLC bought a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,926 shares of the construction company's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MTZ. LPL Financial LLC boosted its stake in shares of MasTec by 535.1% during the first quarter. LPL Financial LLC now owns 130,314 shares of the construction company's stock valued at $15,209,000 after purchasing an additional 109,794 shares in the last quarter. KBC Group NV raised its position in MasTec by 10.6% during the first quarter. KBC Group NV now owns 2,773 shares of the construction company's stock valued at $324,000 after acquiring an additional 266 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in MasTec by 37.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock worth $1,915,000 after purchasing an additional 4,469 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after purchasing an additional 278 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in MasTec by 33.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock worth $263,000 after buying an additional 565 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of MasTec 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the business's 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 completion of the transaction, the chief operating officer directly owned 194,249 shares in the company, valued at $33,993,575. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

MasTec Price Performance

MTZ traded down $0.15 during trading on Thursday, reaching $182.96. 507,167 shares of the company traded hands, compared to its average volume of 1,055,687. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. MasTec, Inc. has a 12-month low of $96.01 and a 12-month high of $194.00. The company has a market cap of $14.44 billion, a P/E ratio of 54.13 and a beta of 1.83. The firm has a fifty day simple moving average of $170.52 and a 200 day simple moving average of $145.62.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. On average, equities analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTZ. Piper Sandler raised their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. KeyCorp lifted their target price on shares of MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday. Jefferies Financial Group started coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective on the stock. TD Cowen lifted their price target on MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $195.12.

MasTec 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.