MasTec, Inc. (NYSE:MTZ) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,066 shares of the construction company's stock after acquiring an additional 10,937 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.17% of MasTec worth $15,297,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. HB Wealth Management LLC boosted its position in shares of MasTec by 40.8% in the first quarter. HB Wealth Management LLC now owns 2,398 shares of the construction company's stock worth $280,000 after acquiring an additional 695 shares during the last quarter. Cetera Investment Advisers raised its holdings in MasTec by 144.0% in the first quarter. Cetera Investment Advisers now owns 14,445 shares of the construction company's stock valued at $1,686,000 after buying an additional 8,524 shares during the period. Avantax Advisory Services Inc. raised its holdings in MasTec by 3.4% in the first quarter. Avantax Advisory Services Inc. now owns 3,721 shares of the construction company's stock valued at $434,000 after buying an additional 121 shares during the period. Dorsey Wright & Associates purchased a new position in MasTec in the first quarter valued at approximately $1,516,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MasTec in the first quarter valued at approximately $3,400,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on MTZ. Roth Capital began coverage on shares of MasTec in a report on Tuesday, July 1st. They issued a "buy" rating and a $210.00 price target on the stock. Jefferies Financial Group began coverage on shares of MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 price target on the stock. Guggenheim restated a "buy" rating and issued a $195.00 price target on shares of MasTec in a report on Monday, May 5th. Stifel Nicolaus raised their price target on shares of MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, KeyCorp restated an "overweight" rating and issued a $196.00 price target (up previously from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $179.88.

MasTec Stock Down 8.0%

Shares of NYSE:MTZ traded down $15.17 during midday trading on Friday, reaching $174.04. The company had a trading volume of 3,637,641 shares, compared to its average volume of 1,057,130. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. The stock's fifty day moving average price is $168.58 and its 200-day moving average price is $144.95. The stock has a market capitalization of $13.73 billion, a P/E ratio of 63.99 and a beta of 1.75. MasTec, Inc. has a one year low of $89.96 and a one year high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The firm had revenue of $3.55 billion during 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 revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director directly owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

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.