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8,527 Shares in MasTec, Inc. (NYSE:MTZ) Purchased by Picton Mahoney Asset Management

MasTec logo with Construction background

Picton Mahoney Asset Management purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,527 shares of the construction company's stock, valued at approximately $995,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fielder Capital Group LLC raised its position in shares of MasTec by 9.5% in the first quarter. Fielder Capital Group LLC now owns 1,989 shares of the construction company's stock valued at $232,000 after buying an additional 173 shares during the last quarter. LPL Financial LLC raised its position in shares of MasTec by 535.1% in the first quarter. LPL Financial LLC now owns 130,314 shares of the construction company's stock valued at $15,209,000 after buying an additional 109,794 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MasTec by 9.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,066 shares of the construction company's stock valued at $15,297,000 after buying an additional 10,937 shares during the last quarter. HB Wealth Management LLC raised its position in shares of MasTec by 40.8% in the first quarter. HB Wealth Management LLC now owns 2,398 shares of the construction company's stock valued at $280,000 after buying an additional 695 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of MasTec by 144.0% in the first quarter. Cetera Investment Advisers now owns 14,445 shares of the construction company's stock valued at $1,686,000 after buying an additional 8,524 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently 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 target for the company. JPMorgan Chase & Co. upped their price target on shares of MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Piper Sandler upped their price target 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 upped their price target on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Roth Capital started coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price target for the company. Two 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $179.88.

Get Our Latest Report on MTZ

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the sale, the chief operating officer directly owned 194,249 shares of the company's stock, valued at approximately $33,993,575. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director directly 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 disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Down 8.0%

Shares of MTZ stock traded down $15.17 on Friday, hitting $174.04. The stock had a trading volume of 3,637,842 shares, compared to its average volume of 823,695. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 51.49 and a beta of 1.83. The stock's 50 day moving average is $169.01 and its 200-day moving average is $145.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the firm posted $0.96 EPS. The firm's revenue was up 19.7% compared to the same quarter last year. As a group, research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

MasTec Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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