MasTec, Inc. (NYSE:MTZ) Shares Bought by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. raised its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 164.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of MasTec during the 4th quarter worth $240,000. Merit Financial Group LLC purchased a new position in shares of MasTec during the 4th quarter worth $415,000. HB Wealth Management LLC purchased a new position in shares of MasTec during the 4th quarter worth $232,000. Finally, Kera Capital Partners Inc. purchased a new position in shares of MasTec during the 4th quarter worth $253,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird reduced their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group assumed coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. Citigroup raised their price objective on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. Finally, KeyCorp raised their price objective on MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.06.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated 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 in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was 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 of the company's stock, valued at approximately $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

MasTec Trading Up 1.2%

MasTec stock traded up $1.77 during midday trading on Friday, reaching $152.54. 772,768 shares of the stock traded hands, compared to its average volume of 941,284. The company has a 50-day simple moving average of $129.66 and a two-hundred day simple moving average of $135.32. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The firm has a market cap of $12.04 billion, a PE ratio of 136.19 and a beta of 1.71. 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 announced its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.17. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. MasTec's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. Research analysts expect that MasTec, Inc. will post 3.44 earnings per share 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.