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

Union Bancaire Privee UBP SA purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the 1st quarter, according to the company in its most recent disclosure 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in MasTec by 21.8% in the first quarter. Fifth Third Bancorp now owns 704 shares of the construction company's stock valued at $82,000 after purchasing an additional 126 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of MasTec by 31.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 245,231 shares of the construction company's stock worth $28,621,000 after acquiring an additional 59,056 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MasTec during the 1st quarter worth $5,337,000. Abacus FCF Advisors LLC grew its position in MasTec by 2.7% in the first quarter. Abacus FCF Advisors LLC now owns 7,517 shares of the construction company's stock worth $877,000 after acquiring an additional 198 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Trading Down 0.8%

Shares of MTZ stock traded down $1.35 during trading hours on Friday, reaching $161.95. The company's stock had a trading volume of 413,103 shares, compared to its average volume of 942,415. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95. The stock has a market capitalization of $12.78 billion, a P/E ratio of 144.60 and a beta of 1.75. The firm's fifty day simple moving average is $141.64 and its 200 day simple moving average is $137.12.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results 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 0.73% and a return on equity of 8.27%. The business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler lifted their price target on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Barclays upped their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Jefferies Financial Group began coverage on shares of MasTec in a research note on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. Finally, Wolfe Research initiated coverage on shares of MasTec in a research report on Monday, March 31st. They issued a "peer perform" rating on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $166.75.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. This represents 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 owned by insiders.

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.