LPL Financial LLC Raises Holdings in MasTec, Inc. (NYSE:MTZ)

LPL Financial LLC raised its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 535.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,314 shares of the construction company's stock after purchasing an additional 109,794 shares during the quarter. LPL Financial LLC owned 0.16% of MasTec worth $15,209,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC increased its stake in shares of 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 buying an additional 141 shares during the period. Rothschild Investment LLC grew its stake 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 purchasing an additional 263 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in MasTec during the first quarter worth approximately $35,000. Harbor Investment Advisory LLC grew its stake 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 purchasing an additional 200 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in MasTec in the fourth quarter worth approximately $49,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Price Performance

MTZ stock traded down $1.52 during mid-day trading on Friday, hitting $181.46. 771,373 shares of the stock were exchanged, compared to its average volume of 1,063,984. MasTec, Inc. has a 12 month low of $96.01 and a 12 month high of $194.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The business has a fifty day moving average price of $171.57 and a 200 day moving average price of $145.86. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 53.69 and a beta of 1.83.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTZ. TD Cowen increased their price target on MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Jefferies Financial Group initiated coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. Citigroup dropped their price target on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Barclays reissued an "overweight" rating and issued a $200.00 target price (up from $145.00) on shares of MasTec in a research report on Monday, July 21st. Finally, Piper Sandler lifted their price target on MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $195.12.

Insider Buying and Selling 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 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 owned 39,782 shares of the company's stock, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock valued at $4,018,570 in the last 90 days. 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.