Swiss National Bank Has $14.33 Million Position in MasTec, Inc. $MTZ

Swiss National Bank lowered its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,800 shares of the construction company's stock after selling 1,800 shares during the period. Swiss National Bank owned 0.16% of MasTec worth $14,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ontario Teachers Pension Plan Board bought a new stake in shares of MasTec during the 1st quarter worth approximately $268,000. New Age Alpha Advisors LLC bought a new stake in shares of MasTec during the 1st quarter worth approximately $1,456,000. J. Safra Sarasin Holding AG bought a new stake in shares of MasTec during the 1st quarter worth approximately $2,678,000. Bank of Nova Scotia raised its stake in shares of MasTec by 78.1% during the 1st quarter. Bank of Nova Scotia now owns 93,352 shares of the construction company's stock worth $10,895,000 after purchasing an additional 40,936 shares in the last quarter. Finally, Banco Santander S.A. raised its stake in shares of MasTec by 20.6% during the 1st quarter. Banco Santander S.A. now owns 37,561 shares of the construction company's stock worth $4,384,000 after purchasing an additional 6,412 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Insiders Place Their Bets

In related news, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares in the company, valued at $18,312,750.81. This represents a 8.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the sale, the chief operating officer 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 disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

MasTec Price Performance

Shares of NYSE:MTZ traded up $0.17 during trading on Monday, reaching $177.97. 251,261 shares of the company traded hands, compared to its average volume of 1,043,359. The company's 50 day moving average is $173.64 and its two-hundred day moving average is $147.09. The firm has a market capitalization of $14.04 billion, a PE ratio of 52.65 and a beta of 1.83. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 52 week low of $96.01 and a 52 week high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.08. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The company's revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. As a group, sell-side analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTZ. KeyCorp upped their price objective on MasTec from $196.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Roth Capital initiated coverage on MasTec in a report on Tuesday, July 1st. They set a "buy" rating and a $210.00 target price on the stock. TD Cowen boosted their target price on MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Truist Financial set a $209.00 target price on MasTec in a report on Monday, August 4th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $195.12.

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.