Stratos Wealth Partners LTD. Grows Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Stratos Wealth Partners LTD. raised its stake in MasTec, Inc. (NYSE:MTZ) by 71.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,626 shares of the construction company’s stock after acquiring an additional 1,097 shares during the period. Stratos Wealth Partners LTD.’s holdings in MasTec were worth $307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in MasTec during the 4th quarter valued at about $59,910,000. First Trust Advisors LP grew its holdings in MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after purchasing an additional 373,145 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after buying an additional 363,502 shares during the period. Merewether Investment Management LP purchased a new stake in MasTec in the 4th quarter valued at about $46,612,000. Finally, Freestone Grove Partners LP purchased a new stake in MasTec in the 4th quarter valued at about $31,730,000. 78.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Stifel Nicolaus upped their price target on shares of MasTec from $171.00 to $181.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Jefferies Financial Group initiated coverage on shares of MasTec in a research report on Friday, May 16th. They set a “buy” rating and a $188.00 target price for the company. Wall Street Zen cut shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 5th. Finally, Truist Financial increased their target price on shares of MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fifteen 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 currently has an average rating of “Buy” and an average price target of $169.29.

MasTec Stock Down 0.2%

Shares of NYSE:MTZ opened at $172.00 on Wednesday. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $173.67. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 63.24 and a beta of 1.75. The company has a 50 day moving average of $161.78 and a two-hundred day moving average of $141.70.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.