Emerald Advisers LLC Boosts Position in MasTec, Inc. (NYSE:MTZ)

Emerald Advisers LLC grew its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 52.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,808 shares of the construction company's stock after acquiring an additional 3,033 shares during the period. Emerald Advisers LLC's holdings in MasTec were worth $1,028,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hood River Capital Management LLC raised its position in shares of MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after buying an additional 51,531 shares in the last quarter. AQR Capital Management LLC raised its position in shares of MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after buying an additional 91,564 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after buying an additional 363,502 shares in the last quarter. First Trust Advisors LP raised its position in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after buying an additional 373,145 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of MasTec by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock valued at $65,440,000 after buying an additional 4,024 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on 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 transaction, the director owned 39,782 shares in the company, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Performance

Shares of MTZ traded up $2.62 during mid-day trading on Thursday, hitting $176.98. 963,270 shares of the company traded hands, compared to its average volume of 945,674. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. The stock has a 50-day moving average price of $162.95 and a two-hundred day moving average price of $142.21. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $177.21. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 65.06 and a beta of 1.75.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the previous year, the company earned ($0.13) earnings per share. The firm's quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on MTZ shares. Jefferies Financial Group started coverage on shares of MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. B. Riley restated a "buy" rating and set a $165.00 price objective (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Guggenheim restated a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. Truist Financial boosted their target price on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Wall Street Zen cut shares of MasTec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MasTec currently has a consensus rating of "Buy" and an average target price of $171.24.

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.