J. Safra Sarasin Holding AG Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Key Points

• J. Safra Sarasin Holding AG invested $2.68 million in MasTec, acquiring 22,950 shares during the 1st quarter, indicating increasing institutional interest in the company.
• MasTec reported $1.49 earnings per share (EPS), beating estimates and reflecting a 19.7% revenue increase year-over-year to $3.55 billion.
• Analysts have a consensus "Buy" rating on MasTec stock, with price targets ranging from $179.88 to $214.00, suggesting significant upside potential.

J. Safra Sarasin Holding AG bought a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 22,950 shares of the construction company's stock, valued at approximately $2,678,000.

Other large investors also recently bought and sold shares of the company. Colonial Trust Co SC boosted its holdings in shares of 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 acquiring an additional 141 shares during the last quarter. Rothschild Investment LLC boosted 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 worth $32,000 after buying an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in MasTec during the first quarter worth $35,000. Harbor Investment Advisory LLC boosted 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 worth $39,000 after buying an additional 200 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in MasTec during the fourth quarter worth $49,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction 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 transaction, the chief operating officer directly owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

MasTec Stock Down 1.2%

MasTec stock traded down $2.21 during trading on Tuesday, reaching $175.72. The stock had a trading volume of 215,030 shares, compared to its average volume of 1,054,039. MasTec, Inc. has a 52-week low of $96.01 and a 52-week high of $194.00. The business has a 50 day moving average price of $169.52 and a 200 day moving average price of $145.14. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The stock has a market cap of $13.86 billion, a PE ratio of 52.17 and a beta of 1.83.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. On average, analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

MTZ has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of MasTec from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $156.00 to $195.00 in a research report on Friday, June 6th. Citigroup reduced their price objective on shares of MasTec from $220.00 to $219.00 and set a "buy" rating for the company in a research report on Monday. Jefferies Financial Group initiated coverage on shares of MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. Roth Capital initiated coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective for the company. Finally, Robert W. Baird upgraded shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research report on Monday. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $191.76.

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.