Sequoia Financial Advisors LLC Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Sequoia Financial Advisors LLC bought a new position in MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,355 shares of the construction company’s stock, valued at approximately $290,000.

Several other hedge funds also recently bought and sold shares of MTZ. Hobbs Group Advisors LLC acquired a new stake in MasTec in the second quarter worth $27,000. GAMMA Investing LLC increased its position 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 acquiring an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec during the second quarter worth $40,000. UMB Bank n.a. increased its position in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after acquiring an additional 598 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

NYSE MTZ opened at $123.70 on Tuesday. The firm has a 50-day moving average of $118.21 and a 200-day moving average of $108.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The stock has a market cap of $9.83 billion, a PE ratio of -883.57 and a beta of 1.70. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $130.22.

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

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other MasTec 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 transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup increased their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. UBS Group raised their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp raised their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus raised their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.00.

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.