Kayne Anderson Capital Advisors LP Purchases 38,738 Shares of MasTec, Inc. (NYSE:MTZ)

Kayne Anderson Capital Advisors LP grew its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 547.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,816 shares of the construction company's stock after buying an additional 38,738 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.06% of MasTec worth $5,347,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Colonial Trust Co SC lifted its stake in MasTec by 335.7% in the fourth 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 increased 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 during the period. Smallwood Wealth Investment Management LLC bought a new position in MasTec in the 1st quarter valued at about $35,000. Harbor Investment Advisory LLC grew its holdings in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of MasTec during the 4th quarter valued at approximately $49,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTZ shares. Truist Financial lifted their target price on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Piper Sandler upped their price objective on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Guggenheim restated a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Barclays reissued an "overweight" rating on shares of MasTec in a research note on Monday. Finally, Roth Capital initiated coverage on shares of MasTec in a report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective on the stock. 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 company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $171.24.

MasTec Stock Performance

Shares of MasTec stock opened at $174.83 on Monday. The business has a fifty day simple moving average of $163.55 and a two-hundred day simple moving average of $142.56. 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 market capitalization of $13.79 billion, a P/E ratio of 64.50 and a beta of 1.75. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $179.74.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. MasTec's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, equities analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.

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