Jackson Creek Investment Advisors LLC Takes Position in MasTec, Inc. (NYSE:MTZ)

Jackson Creek Investment Advisors LLC purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,396 shares of the construction company's stock, valued at approximately $513,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in MasTec during the fourth quarter valued at $227,000. EverSource Wealth Advisors LLC lifted its position in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in MasTec during the fourth quarter valued at $490,000. Commonwealth Equity Services LLC raised its holdings in MasTec by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 46,558 shares of the construction company's stock valued at $6,338,000 after acquiring an additional 1,262 shares during the period. Finally, Natixis Advisors LLC raised its holdings in MasTec by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 11,929 shares of the construction company's stock valued at $1,624,000 after acquiring an additional 136 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 194,249 shares of the company's stock, 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 is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the 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 owned 39,782 shares in the company, valued at $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. Corporate insiders own 21.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on MTZ. KeyCorp reaffirmed an "overweight" rating and issued a $196.00 price objective (up previously from $171.00) on shares of MasTec in a research note on Wednesday. Guggenheim reissued a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. Wall Street Zen cut MasTec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Truist Financial boosted 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. Finally, Citigroup boosted their price objective on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $171.24.

MasTec Stock Up 0.8%

Shares of NYSE:MTZ traded up $1.36 during trading on Friday, hitting $177.93. The company's stock had a trading volume of 848,747 shares, compared to its average volume of 945,526. The business has a 50 day moving average price of $163.55 and a two-hundred day moving average price of $142.54. The company has a market capitalization of $14.04 billion, a PE ratio of 65.42 and a beta of 1.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $178.93.

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

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.