Exchange Traded Concepts LLC Raises Position in MasTec, Inc. (NYSE:MTZ)

Exchange Traded Concepts LLC grew its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 42.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,630 shares of the construction company’s stock after purchasing an additional 1,389 shares during the period. Exchange Traded Concepts LLC’s holdings in MasTec were worth $570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new stake in MasTec during the 2nd quarter worth about $27,000. DekaBank Deutsche Girozentrale purchased a new position in MasTec in the 2nd quarter valued at about $40,000. GAMMA Investing LLC lifted its stake in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after buying an additional 144 shares in the last quarter. UMB Bank n.a. lifted its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares in the last quarter. Finally, Blue Trust Inc. lifted 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 in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 800 shares of the firm’s 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 $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. 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 over the last 90 days. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of MTZ opened at $127.15 on Friday. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $130.22. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of -908.21 and a beta of 1.70. The firm has a 50-day simple moving average of $116.10 and a 200-day simple moving average of $107.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. On average, equities research analysts anticipate that MasTec, Inc. will post 2.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTZ. The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. DA Davidson lifted their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. KeyCorp lifted their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Finally, B. Riley boosted their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

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.