LPL Financial LLC Boosts Stake in MasTec, Inc. (NYSE:MTZ)

LPL Financial LLC grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 535.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 130,314 shares of the construction company’s stock after acquiring an additional 109,794 shares during the period. LPL Financial LLC owned about 0.16% of MasTec worth $15,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC grew its holdings in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 141 shares during the period. Rothschild Investment LLC boosted its position in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of MasTec in the 1st quarter worth approximately $35,000. Harbor Investment Advisory LLC boosted its position in shares of MasTec by 147.1% in the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of MasTec in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

NYSE MTZ opened at $182.91 on Thursday. The business’s fifty day moving average price is $170.52 and its 200-day moving average price is $145.62. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 54.12 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. MasTec, Inc. has a 1-year low of $96.01 and a 1-year high of $194.00.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.08. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. On average, equities analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on MTZ shares. Wall Street Zen raised MasTec from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Robert W. Baird raised MasTec from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Monday. The Goldman Sachs Group raised MasTec from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $156.00 to $195.00 in a research report on Friday, June 6th. KeyCorp boosted their price target on MasTec from $196.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Guggenheim reissued a “buy” rating and issued a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $193.24.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction 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 $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer owned 194,249 shares of the company’s stock, valued at $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. Corporate insiders own 21.30% of the company’s stock.

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.