Virtus Investment Advisers Inc. Boosts Holdings in MasTec, Inc. (NYSE:MTZ)

Virtus Investment Advisers Inc. increased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 164.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,306 shares of the construction company's stock after purchasing an additional 2,676 shares during the period. Virtus Investment Advisers Inc.'s holdings in MasTec were worth $586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTZ. Allworth Financial LP boosted its stake in MasTec by 15.1% during the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock worth $81,000 after buying an additional 78 shares during the period. Arizona State Retirement System boosted its stake in MasTec by 0.5% during the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock worth $2,504,000 after buying an additional 89 shares during the period. Fielder Capital Group LLC boosted its stake in MasTec by 6.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock worth $247,000 after buying an additional 105 shares during the period. Rockefeller Capital Management L.P. boosted its stake in MasTec by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock worth $1,883,000 after buying an additional 105 shares during the period. Finally, UMB Bank n.a. boosted its stake in MasTec by 29.8% during the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock worth $67,000 after buying an additional 113 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director now directly owns 39,782 shares of the company's stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares in the company, 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 owned by corporate insiders.

MasTec Stock Down 3.1%

NYSE:MTZ traded down $4.74 during mid-day trading on Thursday, hitting $150.60. The stock had a trading volume of 1,362,068 shares, compared to its average volume of 941,077. The stock has a 50-day simple moving average of $129.04 and a two-hundred day simple moving average of $135.21. The company has a market capitalization of $11.88 billion, a PE ratio of 134.46 and a beta of 1.71. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95. 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 (NYSE:MTZ - Get Free Report) last released 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 0.73% and a return on equity of 8.27%. The company had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter last year, the company earned ($0.13) earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on MTZ shares. Citigroup increased their target price on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. B. Riley reissued a "buy" rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Stifel Nicolaus raised their price objective on shares of MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Piper Sandler raised their price objective on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Barclays raised their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, MasTec presently has an average rating of "Moderate Buy" and an average price target of $162.06.

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.