Dorsey Wright & Associates Invests $1.52 Million in MasTec, Inc. (NYSE:MTZ)

Dorsey Wright & Associates acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 12,991 shares of the construction company's stock, valued at approximately $1,516,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in MasTec in the 4th quarter worth approximately $227,000. Quantbot Technologies LP lifted its holdings in MasTec by 177.0% in the 4th quarter. Quantbot Technologies LP now owns 9,125 shares of the construction company's stock worth $1,242,000 after purchasing an additional 5,831 shares in the last quarter. American Century Companies Inc. lifted its holdings in MasTec by 62.2% in the 4th quarter. American Century Companies Inc. now owns 27,845 shares of the construction company's stock worth $3,791,000 after purchasing an additional 10,679 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in MasTec in the 4th quarter worth approximately $1,756,000. Finally, LPL Financial LLC lifted its holdings in MasTec by 1.5% in the 4th quarter. LPL Financial LLC now owns 20,520 shares of the construction company's stock worth $2,794,000 after purchasing an additional 310 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the transaction, the chief operating officer owned 194,249 shares in the company, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm's 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 sale, the director directly owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group assumed coverage on MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 price target on the stock. Truist Financial lifted their price objective on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted their price objective on MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research note on Tuesday. The Goldman Sachs Group raised MasTec from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $176.94.

MasTec Stock Performance

Shares of MTZ stock traded up $4.70 during mid-day trading on Friday, reaching $186.45. The stock had a trading volume of 642,272 shares, compared to its average volume of 845,239. The business's fifty day moving average is $165.34 and its 200-day moving average is $143.48. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 68.55 and a beta of 1.75. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $188.74.

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

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.