Avantax Advisory Services Inc. Increases Stake in MasTec, Inc. (NYSE:MTZ)

Avantax Advisory Services Inc. raised its holdings in MasTec, Inc. (NYSE:MTZ) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,721 shares of the construction company’s stock after buying an additional 121 shares during the period. Avantax Advisory Services Inc.’s holdings in MasTec were worth $434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new stake in shares of MasTec in the fourth quarter valued at $227,000. LPL Financial LLC increased its holdings in MasTec by 1.5% during the 4th quarter. LPL Financial LLC now owns 20,520 shares of the construction company’s stock worth $2,794,000 after purchasing an additional 310 shares during the period. Norges Bank acquired a new stake in MasTec in the 4th quarter valued at about $7,663,000. Franklin Resources Inc. purchased a new position in shares of MasTec in the 4th quarter valued at about $1,191,000. Finally, National Bank of Canada FI acquired a new position in shares of MasTec during the fourth quarter worth about $1,988,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other MasTec 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 transaction of $461,670.00. Following the transaction, the director 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 SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer directly owned 194,249 shares of the company’s stock, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

MasTec Trading Up 2.9%

Shares of MTZ stock opened at $182.91 on Thursday. MasTec, Inc. has a twelve month low of $96.01 and a twelve month high of $194.00. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $170.52 and its two-hundred day moving average is $145.62. The company has a market capitalization of $14.43 billion, a P/E ratio of 54.12 and a beta of 1.83.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.41 by $0.08. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Equities analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Roth Capital began coverage on shares of MasTec in a report on Tuesday, July 1st. They issued a “buy” rating and a $210.00 target price on the stock. Truist Financial set a $209.00 price objective on shares of MasTec in a research report on Monday. Baird R W raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised MasTec from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, The Goldman Sachs Group upgraded MasTec from a “neutral” rating to a “buy” rating and raised their price target for the company from $156.00 to $195.00 in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $193.24.

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.