Bayforest Capital Ltd Raises Stock Position in MasTec, Inc. (NYSE:MTZ)

Bayforest Capital Ltd boosted its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 294.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,419 shares of the construction company's stock after acquiring an additional 4,791 shares during the period. Bayforest Capital Ltd's holdings in MasTec were worth $749,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MTZ. Colonial Trust Co SC grew its position in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the last quarter. Rothschild Investment LLC grew its position in MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in MasTec during the 1st quarter worth approximately $35,000. Harbor Investment Advisory LLC grew its position in MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in MasTec during the 4th quarter worth approximately $49,000. Institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Truist Financial boosted their price target on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday. Citigroup boosted their price target on shares of MasTec from $192.00 to $220.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, KeyCorp restated an "overweight" rating and set a $196.00 price target (up from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $179.88.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Monday, May 12th. The shares were 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 in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction 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 position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

MasTec Stock Down 8.0%

NYSE MTZ traded down $15.17 on Friday, hitting $174.04. 3,637,842 shares of the company were exchanged, compared to its average volume of 823,695. The company has a market cap of $13.73 billion, a PE ratio of 51.49 and a beta of 1.83. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $194.00. The stock has a fifty day moving average of $169.01 and a 200-day moving average of $145.11. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69.

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, topping the consensus estimate of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.81%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business's revenue was up 19.7% on a year-over-year basis. As a group, analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current 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.