8,751 Shares in MasTec, Inc. (NYSE:MTZ) Purchased by Franklin Resources Inc.

Franklin Resources Inc. bought a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,751 shares of the construction company’s stock, valued at approximately $1,191,000.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in MasTec during the 3rd quarter valued at about $25,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after acquiring an additional 116 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after acquiring an additional 190 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.30% of the stock is owned by company insiders.

MasTec Price Performance

Shares of NYSE:MTZ opened at $118.36 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The firm’s 50 day simple moving average is $123.75 and its two-hundred day simple moving average is $132.95. The company has a market capitalization of $9.38 billion, a P/E ratio of 105.68 and a beta of 1.62.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler began coverage on MasTec in a research note on Tuesday, April 8th. They set an “overweight” rating and a $134.00 target price on the stock. Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upped their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Truist Financial reduced their price target on shares of MasTec from $197.00 to $154.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird lowered their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average price target of $153.87.

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.