Brighton Jones LLC Invests $216,000 in MasTec, Inc. (NYSE:MTZ)

Brighton Jones LLC acquired a new stake in MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,015 shares of the construction company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MTZ. Electron Capital Partners LLC boosted its holdings in shares of MasTec by 16.1% in the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after buying an additional 238,874 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in MasTec by 42.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares during the period. Point72 Asset Management L.P. lifted its position in shares of MasTec by 96.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares in the last quarter. Norges Bank acquired a new stake in MasTec in the 4th quarter valued at $46,970,000. Finally, Schroder Investment Management Group lifted its stake in MasTec by 95.0% in the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock valued at $46,556,000 after buying an additional 299,567 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $126.14 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec, Inc. has a one year low of $44.65 and a one year high of $127.97. The company has a fifty day moving average price of $108.63 and a two-hundred day moving average price of $102.58. The stock has a market cap of $10.02 billion, a P/E ratio of -901.00 and a beta of 1.70.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. As a group, equities analysts predict that MasTec, Inc. will post 2.71 EPS for the current year.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 21.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on MTZ. Stifel Nicolaus boosted their price target on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price objective on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial reaffirmed a “hold” rating and issued a $112.00 target price (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. DA Davidson raised their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup boosted their price target on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average target price of $117.50.

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.