Cerity Partners LLC Acquires 5,835 Shares of MasTec, Inc. (NYSE:MTZ)

Cerity Partners LLC grew its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 24.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,088 shares of the construction company's stock after buying an additional 5,835 shares during the period. Cerity Partners LLC's holdings in MasTec were worth $3,512,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in MasTec by 16.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company's stock worth $87,000 after purchasing an additional 104 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of MasTec by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock worth $1,883,000 after buying an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Fifth Third Bancorp boosted its holdings in MasTec by 21.8% during the first quarter. Fifth Third Bancorp now owns 704 shares of the construction company's stock worth $82,000 after purchasing an additional 126 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in MasTec by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 11,929 shares of the construction company's stock valued at $1,624,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec 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 sale, the director directly owned 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer directly owned 194,249 shares in the company, valued at approximately $33,993,575. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

MasTec Trading Up 0.8%

Shares of NYSE MTZ traded up $1.36 during mid-day trading on Friday, hitting $177.93. The stock had a trading volume of 848,747 shares, compared to its average volume of 945,526. 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 business has a 50 day moving average price of $163.55 and a two-hundred day moving average price of $142.54. The firm has a market cap of $14.04 billion, a P/E ratio of 65.42 and a beta of 1.75. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $178.93.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 11.65% and a net margin of 1.72%. The company's revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. On average, equities analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of research analyst reports. Guggenheim reaffirmed a "buy" rating and issued a $195.00 target price on shares of MasTec in a report on Monday, May 5th. Jefferies Financial Group began coverage on shares of MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 target price on the stock. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and upped their target price for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Wolfe Research initiated coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating on the stock. Finally, Piper Sandler raised their price objective on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $171.24.

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.