Spire Wealth Management Has $999,000 Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Spire Wealth Management increased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 4,181.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,563 shares of the construction company's stock after purchasing an additional 8,363 shares during the quarter. Spire Wealth Management's holdings in MasTec were worth $999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daymark Wealth Partners LLC increased its position in shares of MasTec by 11.4% during the 1st quarter. Daymark Wealth Partners LLC now owns 4,731 shares of the construction company's stock valued at $552,000 after purchasing an additional 485 shares during the period. Asset Management One Co. Ltd. boosted its stake in MasTec by 9.8% during the first quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company's stock valued at $5,253,000 after buying an additional 4,031 shares in the last quarter. Ausbil Investment Management Ltd grew its holdings in MasTec by 27.2% during the first quarter. Ausbil Investment Management Ltd now owns 5,246 shares of the construction company's stock worth $612,000 after acquiring an additional 1,123 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in MasTec by 37.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock worth $1,915,000 after acquiring an additional 4,469 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in MasTec by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,213 shares of the construction company's stock worth $841,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of several recent research reports. Citigroup lifted their price objective on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Roth Capital started coverage on shares of MasTec in a research report on Tuesday. They issued a "buy" rating and a $210.00 price target on the stock. Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus increased their price objective on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Truist Financial lifted their target price on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $169.29.

MasTec Stock Down 1.2%

Shares of MTZ traded down $2.10 during trading hours on Tuesday, reaching $168.33. The company's stock had a trading volume of 1,476,074 shares, compared to its average volume of 947,074. The company has a 50 day moving average of $153.88 and a two-hundred day moving average of $139.33. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 61.89 and a beta of 1.75. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $172.71.

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 for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the business earned ($0.13) EPS. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director owned 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 21.30% of the company's stock.

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.