Virtu Financial LLC Acquires Shares of 5,289 MasTec, Inc. (NYSE:MTZ)

Key Points

• Virtu Financial LLC acquired 5,289 shares of MasTec, Inc. valued at approximately $617,000.
• Insider activity showed significant stock sales, with EVP Cardenas Alberto De selling 10,000 shares for around $1.8 million, indicating a decrease in ownership.
• MasTec's stock has a consensus rating of "Buy" from analysts, with price targets ranging from $195.00 to $220.00, highlighting positive market sentiment.

Virtu Financial LLC acquired a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,289 shares of the construction company's stock, valued at approximately $617,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its holdings in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares in the last quarter. 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 purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of MasTec during the first quarter worth about $35,000. Harbor Investment Advisory LLC increased its stake in shares of 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. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of MasTec during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Activity at MasTec

In related news, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the sale, the executive vice president directly owned 101,349 shares of the company's stock, 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 accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 194,249 shares in the company, 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. 21.30% of the stock is owned by corporate insiders.

MasTec Price Performance

Shares of MTZ opened at $184.62 on Wednesday. MasTec, Inc. has a fifty-two week low of $96.01 and a fifty-two week high of $194.00. The firm's 50 day moving average price is $172.51 and its 200 day moving average price is $146.17. The company has a market cap of $14.57 billion, a P/E ratio of 54.62 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 (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm earned $0.96 EPS. The firm's revenue for the quarter 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 Analysts Forecast Growth

A number of research firms recently weighed in on MTZ. Citigroup lowered their price target on shares of MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Stifel Nicolaus boosted their price target on shares of MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Robert W. Baird upgraded shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Monday, August 4th. TD Cowen boosted their target price on shares of MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $195.12.

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.

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