TradeLink Capital LLC Purchases 2,467 Shares of MasTec, Inc. (NYSE:MTZ)

Key Points

• TradeLink Capital LLC increased its stake in MasTec, Inc. by 113.8% in the first quarter, now holding shares worth $540,000, which accounts for approximately 3.3% of its portfolio.
• Several hedge funds have significantly boosted their positions in MasTec, with notable increases of 335.7% by Colonial Trust Co SC and 2,023.1% by Rothschild Investment LLC.
• Analysts have issued predominantly positive ratings for MasTec, with fifteen analysts giving a buy rating and a consensus target price of $179.88 for the stock.

TradeLink Capital LLC grew its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 113.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,634 shares of the construction company's stock after acquiring an additional 2,467 shares during the period. MasTec accounts for 3.3% of TradeLink Capital LLC's portfolio, making the stock its 10th largest holding. TradeLink Capital LLC's holdings in MasTec were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MTZ. Colonial Trust Co SC raised its position in 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 purchasing an additional 141 shares during the last quarter. Rothschild Investment LLC grew its holdings in MasTec by 2,023.1% during the 1st 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 period. Smallwood Wealth Investment Management LLC bought a new stake in shares of MasTec during the 1st quarter valued at $35,000. Harbor Investment Advisory LLC raised its position in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of MasTec during the 4th quarter valued at $49,000. Institutional investors own 78.10% of the company's stock.

MasTec Stock Down 8.0%

NYSE MTZ traded down $15.17 on Friday, reaching $174.04. The company had a trading volume of 3,637,842 shares, compared to its average volume of 823,695. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 51.49 and a beta of 1.83. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $194.00. The company's fifty day moving average is $169.01 and its 200-day moving average is $145.11.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.81%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the business posted $0.96 EPS. The company's quarterly revenue was up 19.7% on a year-over-year basis. On average, research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim reiterated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Barclays reiterated an "overweight" rating and set a $200.00 target price (up previously from $145.00) on shares of MasTec in a research report on Monday, July 21st. Roth Capital assumed coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 target price for the company. Wall Street Zen cut shares of MasTec from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, The Goldman Sachs Group upgraded shares of MasTec from a "neutral" rating to a "buy" rating and upped their target price for the company from $156.00 to $195.00 in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $179.88.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chief operating officer directly owned 194,249 shares in the company, valued at $33,993,575. This represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the 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 transaction, the director owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This represents a 7.01% 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 Company 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.