MasTec, Inc. (NYSE:MTZ) Shares Purchased by Emerald Advisers LLC

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

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC boosted its position 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 worth $25,000 after acquiring an additional 141 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of 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 acquiring an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of MasTec in the 1st quarter valued at about $35,000. Finally, Harbor Investment Advisory LLC raised its position in shares of 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 acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the firm'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 value of $461,670.00. Following the completion of the sale, the director directly owned 39,782 shares of the company's stock, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MTZ. KeyCorp increased their price target on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Piper Sandler upped their target price on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group upgraded shares of MasTec from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Wolfe Research assumed coverage on shares of MasTec in a research report on Monday, March 31st. They issued a "peer perform" rating for the company. Finally, Stifel Nicolaus raised their price objective on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, MasTec has an average rating of "Buy" and an average target price of $169.29.

MasTec Stock Up 0.9%

MasTec stock opened at $170.25 on Monday. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 62.59 and a beta of 1.75. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $160.66 and a two-hundred day moving average of $141.23. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $173.24.

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

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.

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