Marco Investment Management LLC Invests $2.76 Million in MasTec, Inc. (NYSE:MTZ)

Key Points

• Marco Investment Management LLC has acquired a new stake in MasTec, Inc., purchasing 23,605 shares valued at approximately $2.76 million during the first quarter.
• Several institutional investors, including Arrowstreet Capital and First Trust Advisors LP, have significantly increased their holdings in MasTec during the fourth quarter, collectively managing to own about 78.10% of the company's stock.
• MasTec's stock has been rated positively by analysts, with JPMorgan Chase & Co. raising the target price from $180 to $214, while the stock currently holds an average price target of $179.88 and a general rating of "Buy."

Marco Investment Management LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,605 shares of the construction company's stock, valued at approximately $2,755,000.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC increased its holdings in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Rothschild Investment LLC grew its stake 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 acquiring an additional 263 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in MasTec in the 1st quarter valued at $35,000. Harbor Investment Advisory LLC increased its holdings in shares of MasTec by 147.1% in the first 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 acquired a new position in MasTec in the fourth quarter valued at approximately $49,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MTZ shares. KeyCorp restated an "overweight" rating and issued a $196.00 price objective (up from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Jefferies Financial Group assumed coverage on MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. Barclays reissued an "overweight" rating and set a $200.00 price objective (up from $145.00) on shares of MasTec in a research report on Monday, July 21st. Stifel Nicolaus upped their price target on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $179.88.

MasTec Trading Down 9.4%

Shares of NYSE MTZ traded down $17.78 during midday trading on Friday, hitting $171.43. The stock had a trading volume of 2,356,689 shares, compared to its average volume of 1,047,664. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 63.14 and a beta of 1.75. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $194.00. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $168.58 and a 200 day moving average price of $144.95.

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, beating the consensus estimate of $1.41 by $0.08. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The company's revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. On average, analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Activity

In other news, COO Robert E. Apple sold 10,000 shares of MasTec 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 in the company, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 completion of the transaction, the director owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

About MasTec

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.