MML Investors Services LLC increased its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,804 shares of the construction company's stock after buying an additional 4,001 shares during the quarter. MML Investors Services LLC's holdings in MasTec were worth $3,241,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB purchased a new position in shares of MasTec in the 3rd quarter valued at $25,000. Ameliora Wealth Management Ltd. purchased a new position in MasTec in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after buying an additional 116 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after buying an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.
Insider Buying and Selling at MasTec
In other news, 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 completion of the transaction, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.30% of the stock is currently owned by company insiders.
MasTec Stock Performance
MasTec stock traded up $8.27 during mid-day trading on Friday, reaching $142.28. The company's stock had a trading volume of 556,817 shares, compared to its average volume of 1,164,953. The business has a 50 day moving average price of $120.27 and a 200-day moving average price of $132.50. 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, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 127.14 and a beta of 1.62.
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 the consensus estimate of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. MasTec's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Sell-side analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Citigroup lowered their price objective on shares of MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial cut their price objective on shares of MasTec from $197.00 to $154.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a research note on Tuesday, March 25th. Wolfe Research started coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Finally, B. Riley restated a "buy" rating and set a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and a consensus price target of $151.00.
Check Out Our Latest Stock Analysis on MasTec
About MasTec
(
Free Report)
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.
See Also
Before you consider MasTec, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MasTec wasn't on the list.
While MasTec currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
