MasTec, Inc. (NYSE:MTZ) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 32.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,736 shares of the construction company's stock after acquiring an additional 11,143 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of MasTec worth $5,338,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Colonial Trust Co SC raised its holdings in shares of MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Rothschild Investment LLC increased its holdings in MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after buying an additional 263 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in MasTec during the first quarter valued at approximately $35,000. Harbor Investment Advisory LLC increased its holdings in MasTec by 147.1% during the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after buying an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in MasTec during the fourth quarter valued at approximately $49,000. Institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on MTZ shares. Guggenheim reaffirmed a "buy" rating and set a $195.00 target price on shares of MasTec in a report on Monday, May 5th. Piper Sandler upped their target price on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Jefferies Financial Group started coverage on shares of MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 target price for the company. KeyCorp reaffirmed an "overweight" rating and set a $196.00 target price (up from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Finally, Stifel Nicolaus upped their price target on shares of MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Two investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $179.88.

Insider Buying and Selling at MasTec

In related 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 sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the sale, the chief operating officer owned 194,249 shares of the company's stock, valued at approximately $33,993,575. This represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

MasTec Stock Up 0.6%

Shares of MTZ stock traded up $1.17 during trading hours on Monday, reaching $187.36. 888,014 shares of the stock were exchanged, compared to its average volume of 806,857. The business's fifty day moving average is $166.52 and its two-hundred day moving average is $144.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $188.74. The firm has a market capitalization of $14.78 billion, a P/E ratio of 68.88 and a beta of 1.75.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) earnings per share. As a group, research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal 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.