Wealth Enhancement Advisory Services LLC Acquires 4,203 Shares of MasTec, Inc. (NYSE:MTZ)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,360 shares of the construction company's stock after buying an additional 4,203 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in MasTec were worth $1,819,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MTZ. Ameliora Wealth Management Ltd. acquired a new stake in MasTec in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC lifted its stake in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after purchasing an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after purchasing an additional 190 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of MTZ stock traded up $4.30 on Friday, reaching $163.82. The company had a trading volume of 861,177 shares, compared to its average volume of 941,172. The stock has a market capitalization of $12.93 billion, a PE ratio of 146.27 and a beta of 1.75. The company has a quick ratio of 1.20, a current ratio of 1.24 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 business's 50-day moving average is $136.54 and its 200 day moving average is $136.41.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTZ. B. Riley reiterated a "buy" rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. The Goldman Sachs Group upgraded shares of MasTec from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $156.00 to $195.00 in a research report on Friday. Citigroup raised their price objective on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Piper Sandler raised their price objective on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Truist Financial raised their price objective on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $166.75.

Insider Activity

In other 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 transaction, the director now owns 39,782 shares in the company, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. This represents 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 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.