Envestnet Asset Management Inc. Has $4.71 Million Stake in MasTec, Inc. (NYSE:MTZ)

Envestnet Asset Management Inc. lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 37.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,593 shares of the construction company's stock after buying an additional 9,434 shares during the quarter. Envestnet Asset Management Inc.'s holdings in MasTec were worth $4,710,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of MasTec by 15.1% in the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company's stock valued at $81,000 after purchasing an additional 78 shares during the period. Arizona State Retirement System raised its stake in shares of MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after purchasing an additional 89 shares during the period. Fielder Capital Group LLC raised its stake in shares of MasTec by 6.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock valued at $247,000 after purchasing an additional 105 shares during the period. UMB Bank n.a. raised its stake in shares of MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock valued at $67,000 after purchasing an additional 113 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of MasTec by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company's stock valued at $326,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Stock Performance

Shares of NYSE:MTZ traded up $1.11 during trading on Monday, reaching $126.22. 541,626 shares of the stock were exchanged, compared to its average volume of 937,680. MasTec, Inc. has a 12 month low of $86.12 and a 12 month high of $166.95. The firm has a market cap of $9.98 billion, a PE ratio of 112.70 and a beta of 1.62. The stock has a 50-day moving average price of $120.17 and a 200-day moving average price of $132.51. 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 issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. Research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. B. Riley reissued a "buy" rating and issued a $165.00 price target (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Stifel Nicolaus decreased their price objective on MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Robert W. Baird decreased their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. KeyCorp decreased their price objective on MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Citigroup decreased their price objective on MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a report on Friday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.

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.