Ritholtz Wealth Management Buys 1,908 Shares of MasTec, Inc. (NYSE:MTZ)

Ritholtz Wealth Management increased its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 108.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,673 shares of the construction company's stock after acquiring an additional 1,908 shares during the quarter. Ritholtz Wealth Management's holdings in MasTec were worth $429,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MTZ. EverSource Wealth Advisors LLC increased its holdings in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC raised its holdings in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after acquiring an additional 141 shares during the period. Smartleaf Asset Management LLC lifted its position in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after acquiring an additional 128 shares during the last quarter. Rothschild Investment LLC lifted its position in MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after acquiring an additional 190 shares during the period. Institutional investors own 78.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MTZ shares. Barclays lifted their price target on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Citigroup lifted their target price on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Truist Financial upped their price target on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group upgraded shares of MasTec from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Finally, Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. 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, MasTec presently has an average rating of "Buy" and an average target price of $166.75.

MasTec Price Performance

MasTec stock traded down $1.24 during midday trading on Friday, reaching $163.42. The company's stock had a trading volume of 1,586,801 shares, compared to its average volume of 948,970. 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 market cap of $12.89 billion, a PE ratio of 60.08 and a beta of 1.75. MasTec, Inc. has a 52 week low of $89.96 and a 52 week high of $168.14. The business has a 50-day moving average price of $145.44 and a 200-day moving average price of $137.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the prior year, the company earned ($0.13) EPS. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The stock was 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 directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred on 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 now directly owns 39,782 shares in the company, valued at approximately $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. Insiders own 21.30% of the company's stock.

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.