Union Bancaire Privee UBP SA Invests $321,000 in MasTec, Inc. (NYSE:MTZ)

Union Bancaire Privee UBP SA purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,952 shares of the construction company's stock, valued at approximately $321,000.

Several other hedge funds have also recently modified their holdings of MTZ. EverSource Wealth Advisors LLC raised its position in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after buying an additional 116 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of MasTec by 335.7% during the fourth 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 period. Rothschild Investment LLC increased its stake in shares of MasTec by 2,023.1% during the first 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. Smartleaf Asset Management LLC raised its holdings in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after purchasing an additional 128 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in MasTec by 147.1% during the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after purchasing an additional 200 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTZ has been the topic of several recent analyst reports. Wall Street Zen upgraded MasTec from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. Citigroup lifted their price target on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Truist Financial upped their price objective on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Robert W. Baird reduced their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Finally, Jefferies Financial Group started coverage on shares of MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $166.75.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director now owns 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec 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 sale, the director now directly owns 23,000 shares of the company's stock, valued at $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

MasTec Price Performance

NYSE:MTZ traded down $1.07 during mid-day trading on Tuesday, hitting $162.53. 704,373 shares of the company's stock traded hands, compared to its average volume of 945,443. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. The company has a market cap of $12.82 billion, a PE ratio of 59.75 and a beta of 1.75. The firm's 50 day simple moving average is $143.59 and its 200 day simple moving average is $137.33. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data 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. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period last year, the company posted ($0.13) EPS. The company's revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

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.