Royal Bank of Canada Raises Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Royal Bank of Canada raised its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 175.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,301 shares of the construction company's stock after purchasing an additional 82,929 shares during the period. Royal Bank of Canada owned approximately 0.16% of MasTec worth $17,739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new stake in MasTec in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised 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 acquiring an additional 116 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of MasTec by 335.7% in 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 during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after purchasing an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. B. Riley restated a "buy" rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. KeyCorp increased their target price on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Piper Sandler raised their price target on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Truist Financial boosted their price objective on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised MasTec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $162.69.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

MasTec Trading Up 0.3%

Shares of NYSE MTZ traded up $0.42 during midday trading on Friday, hitting $156.49. 119,278 shares of the company traded hands, compared to its average volume of 939,425. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The firm has a market cap of $12.35 billion, a P/E ratio of 139.75 and a beta of 1.71. The stock has a 50-day moving average price of $131.88 and a 200 day moving average price of $135.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. The firm 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 8.27% and a net margin of 0.73%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) EPS. As a group, analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.