GSA Capital Partners LLP Buys New Shares in MasTec, Inc. (NYSE:MTZ)

GSA Capital Partners LLP acquired a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,101 shares of the construction company's stock, valued at approximately $1,412,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC grew its holdings in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares in the last quarter. Rothschild Investment LLC grew its holdings in MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after buying an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in MasTec in the 1st quarter valued at $35,000. Harbor Investment Advisory LLC grew its holdings in MasTec by 147.1% in the 1st 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 in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of MasTec in the 4th quarter valued at $49,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of MTZ traded down $15.17 during mid-day trading on Friday, hitting $174.04. The company's stock had a trading volume of 3,637,842 shares, compared to its average volume of 823,695. 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 50-day simple moving average of $169.01 and a 200 day simple moving average of $145.11. The firm has a market capitalization of $13.73 billion, a P/E ratio of 51.49 and a beta of 1.83. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.41 by $0.08. The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a return on equity of 12.81% and a net margin of 2.04%. The company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MTZ shares. Stifel Nicolaus increased their target price on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Barclays reiterated an "overweight" rating and issued a $200.00 price objective (up previously from $145.00) on shares of MasTec in a report on Monday, July 21st. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and increased their price objective for the company from $156.00 to $195.00 in a report on Friday, June 6th. JPMorgan Chase & Co. raised their price target on MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group assumed coverage on MasTec in a research note on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, MasTec has an average rating of "Buy" and a consensus price target of $179.88.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 194,249 shares of the company's stock, valued at approximately $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 directly owned 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 disclosure for this sale can be found here. 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.