Community Trust & Investment Co. Raises Position in MasTec, Inc. (NYSE:MTZ)

Community Trust & Investment Co. increased its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,918 shares of the construction company's stock after buying an additional 1,825 shares during the quarter. MasTec accounts for about 1.2% of Community Trust & Investment Co.'s portfolio, making the stock its 25th largest position. Community Trust & Investment Co. owned approximately 0.21% of MasTec worth $19,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTZ. EverSource Wealth Advisors LLC grew its stake in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after buying an additional 116 shares during the last quarter. Colonial Trust Co SC grew its stake in 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 during the last quarter. Rothschild Investment LLC grew its stake in MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after purchasing an additional 263 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after purchasing an additional 128 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in 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. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Price Performance

NYSE MTZ traded up $1.96 during trading hours on Thursday, reaching $164.61. The company's stock had a trading volume of 728,570 shares, compared to its average volume of 946,418. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 60.52 and a beta of 1.75. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $166.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. The company's 50-day moving average is $144.45 and its two-hundred day moving average is $137.52.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations 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 prior year, the firm posted ($0.13) EPS. On average, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on MTZ shares. Truist Financial boosted their price target on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Jefferies Financial Group started coverage on MasTec in a research note on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and boosted their price target for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Stifel Nicolaus boosted their price target on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Barclays boosted their price target on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two 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 $166.75.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated 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 now owns 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. 21.30% of the stock is currently owned by insiders.

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.