Exchange Traded Concepts LLC Purchases 10,163 Shares of MasTec, Inc. (NYSE:MTZ)

Exchange Traded Concepts LLC lifted its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 56.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,034 shares of the construction company's stock after purchasing an additional 10,163 shares during the quarter. Exchange Traded Concepts LLC's holdings in MasTec were worth $3,272,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Hood River Capital Management LLC boosted its stake in 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 in the last quarter. AQR Capital Management LLC lifted its holdings in shares of MasTec by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock worth $106,117,000 after acquiring an additional 91,564 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after purchasing an additional 363,502 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after purchasing an additional 373,145 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after purchasing an additional 114,502 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Performance

Shares of MasTec stock traded down $1.01 during trading on Friday, hitting $163.65. 433,256 shares of the company's stock traded hands, compared to its average volume of 944,689. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $168.14. The business has a 50-day simple moving average of $145.44 and a 200-day simple moving average of $137.68. The stock has a market capitalization of $12.91 billion, a P/E ratio of 60.26 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.

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, topping analysts' consensus estimates of $0.34 by $0.17. The firm had revenue of $2.85 billion during 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 business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) earnings per share. As a group, analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

MTZ has been the subject of several analyst reports. Guggenheim restated a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. Wall Street Zen upgraded MasTec from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. B. Riley reiterated a "buy" rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Robert W. Baird dropped their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Piper Sandler lifted their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MasTec currently has an average rating of "Buy" and a consensus price target of $166.75.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now directly owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

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.