Stifel Financial Corp Acquires 1,683 Shares of MasTec, Inc. (NYSE:MTZ)

Stifel Financial Corp boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 16.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,788 shares of the construction company’s stock after acquiring an additional 1,683 shares during the quarter. Stifel Financial Corp’s holdings in MasTec were worth $1,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec in the third quarter worth $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in shares of MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after buying an additional 116 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after buying an additional 128 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of MasTec by 162.4% during the fourth 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 institutional investors and hedge funds.

Insider Activity at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on MTZ shares. Robert W. Baird decreased their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. B. Riley reissued a “buy” rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Piper Sandler upped their price target on shares of MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial lifted their price objective on MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday. Finally, KeyCorp upped their target price on MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.33.

MasTec Stock Performance

MTZ opened at $144.86 on Wednesday. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $166.95. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 129.34 and a beta of 1.71. The company’s fifty day moving average price is $121.11 and its two-hundred day moving average price is $132.88. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.13) EPS. On average, analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal 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.