Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 29,133 MasTec, Inc. (NYSE:MTZ)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 29,133 shares of the construction company's stock, valued at approximately $3,400,000.

A number of other institutional investors also recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP raised its holdings in MasTec by 547.3% during the first quarter. Kayne Anderson Capital Advisors LP now owns 45,816 shares of the construction company's stock worth $5,347,000 after buying an additional 38,738 shares during the last quarter. Blue Bell Private Wealth Management LLC bought a new stake in shares of MasTec during the first quarter worth about $179,000. IFP Advisors Inc raised its holdings in shares of MasTec by 23.5% in the 1st quarter. IFP Advisors Inc now owns 2,270 shares of the construction company's stock worth $265,000 after acquiring an additional 432 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of MasTec by 67.9% in the 1st quarter. Private Advisor Group LLC now owns 6,315 shares of the construction company's stock worth $737,000 after acquiring an additional 2,553 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new position in MasTec in the 1st quarter valued at about $513,000. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Jefferies Financial Group initiated coverage on MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 target price on the stock. Roth Capital assumed coverage on MasTec in a research report on Tuesday, July 1st. They issued a "buy" rating and a $210.00 price target for the company. Guggenheim restated a "buy" rating and set a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. Finally, Piper Sandler lifted their price objective on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $179.88.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director directly owned 39,782 shares of the company's stock, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 sale, the chief operating officer directly owned 194,249 shares in the company, valued at approximately $33,993,575. This trade represents a 4.90% 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 insiders.

MasTec Stock Performance

Shares of NYSE:MTZ traded down $16.89 during midday trading on Friday, reaching $172.33. The company had a trading volume of 1,979,491 shares, compared to its average volume of 1,045,090. The company's 50 day moving average price is $168.58 and its 200 day moving average price is $144.95. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The stock has a market cap of $13.60 billion, a P/E ratio of 63.62 and a beta of 1.75. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal 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.