Creative Planning Buys Shares of 2,656 MasTec, Inc. (NYSE:MTZ)

Creative Planning bought a new position in MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,656 shares of the construction company’s stock, valued at approximately $284,000.

A number of other institutional investors and hedge funds have also modified their holdings of MTZ. Hobbs Group Advisors LLC purchased a new stake in MasTec in the 2nd quarter worth about $27,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of MasTec in the second quarter worth approximately $40,000. GAMMA Investing LLC boosted its holdings in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the period. Blue Trust Inc. increased its stake in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares during the period. Finally, Rise Advisors LLC lifted its position in MasTec by 200.0% in the 2nd quarter. Rise Advisors LLC now owns 588 shares of the construction company’s stock worth $63,000 after buying an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MasTec stock opened at $127.15 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $116.10 and a 200-day simple moving average of $107.18. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of -907.14 and a beta of 1.70. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts expect that MasTec, Inc. will post 2.69 earnings per share for the current year.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock worth $2,978,212 in the last 90 days. 21.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTZ. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. The Goldman Sachs Group boosted their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial raised their price target on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price target on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, B. Riley increased their price objective on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

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.