4,840 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,840 shares of the construction company’s stock, valued at approximately $451,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in MasTec during the fourth quarter worth $37,000. Bessemer Group Inc. boosted its holdings in shares of MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after acquiring an additional 598 shares in the last quarter. CWM LLC boosted its holdings in shares of MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after acquiring an additional 312 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares in the last quarter. Finally, Neo Ivy Capital Management boosted its holdings in shares of MasTec by 891.9% during the 4th quarter. Neo Ivy Capital Management now owns 1,349 shares of the construction company’s stock valued at $102,000 after acquiring an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 3.4 %

MasTec stock traded up $3.66 during midday trading on Wednesday, reaching $110.03. The stock had a trading volume of 1,386,538 shares, compared to its average volume of 870,717. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a market capitalization of $8.74 billion, a P/E ratio of -785.93 and a beta of 1.65. The company has a fifty day moving average price of $107.51 and a two-hundred day moving average price of $92.39. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.33. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. As a group, equities analysts expect that MasTec, Inc. will post 2.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on MTZ shares. Citigroup lifted their target price on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. TD Cowen lifted their target price on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Stifel Nicolaus lifted their target price on MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 6th. B. Riley reaffirmed a “buy” rating and set a $132.00 target price on shares of MasTec in a report on Thursday, June 27th. Finally, DA Davidson lifted their target price on MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus target price of $117.62.

Insider Activity at MasTec

In related news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the sale, the director now directly owns 10,666 shares of the company’s stock, valued at approximately $1,137,742.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the completion of the sale, the director now directly owns 10,666 shares of the company’s stock, valued at approximately $1,137,742.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the sale, the director now directly owns 50,725 shares of the company’s stock, valued at $5,579,750. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

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.