MasTec, Inc. (NYSE:MTZ) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 108.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,673 shares of the construction company's stock after buying 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 institutional investors also recently bought and sold shares of MTZ. Allworth Financial LP grew its holdings in shares of MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock worth $81,000 after purchasing an additional 78 shares during the last quarter. Arizona State Retirement System boosted its position in MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after buying an additional 89 shares during the period. Fielder Capital Group LLC grew its stake in MasTec by 6.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock worth $247,000 after acquiring an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of MasTec by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock worth $1,883,000 after acquiring an additional 105 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of MasTec by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company's stock valued at $326,000 after acquiring an additional 116 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction dated 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 now directly owns 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.30% of the stock is owned by insiders.

MasTec Stock Performance

MTZ traded up $2.85 during midday trading on Monday, hitting $166.56. 595,414 shares of the company were exchanged, compared to its average volume of 943,338. The company's 50 day simple moving average is $147.34 and its 200 day simple moving average is $137.93. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 61.24 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. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $168.50.

MasTec (NYSE:MTZ - Get Free Report) last announced 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 company had revenue of $2.85 billion for 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 firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. As a group, sell-side analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTZ has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Wolfe Research initiated coverage on shares of MasTec in a research note on Monday, March 31st. They set a "peer perform" rating for the company. Piper Sandler lifted their price target on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. The Goldman Sachs Group raised shares of MasTec from a "neutral" rating to a "buy" rating and lifted their price target for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Finally, KeyCorp lifted 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $166.75.

MasTec 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.