MasTec, Inc. (NYSE:MTZ) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in MasTec, Inc. (NYSE:MTZ) by 37.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,593 shares of the construction company’s stock after buying an additional 9,434 shares during the period. Envestnet Asset Management Inc.’s holdings in MasTec were worth $4,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of MTZ. New York State Teachers Retirement System increased its holdings in shares of MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after purchasing an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after acquiring an additional 8,948 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 13,241 shares during the period. Merit Financial Group LLC acquired a new position in shares of MasTec during the 4th quarter valued at about $415,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of MasTec in the fourth quarter valued at about $485,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTZ. Truist Financial decreased their target price on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. KeyCorp decreased their price objective on MasTec from $168.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Citigroup raised their target price on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Guggenheim reissued a “buy” rating and set a $195.00 price objective on shares of MasTec in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

MasTec Stock Up 2.6 %

Shares of NYSE:MTZ opened at $114.06 on Wednesday. The firm’s 50-day moving average is $121.15 and its two-hundred day moving average is $132.61. 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 $83.17 and a 1 year high of $166.95. The firm has a market capitalization of $9.02 billion, a PE ratio of 101.84 and a beta of 1.62.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

MasTec Company 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.