Cetera Investment Advisers Has $1.69 Million Holdings in MasTec, Inc. (NYSE:MTZ)

Cetera Investment Advisers increased its position in shares of MasTec, Inc. (NYSE:MTZ) by 144.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,445 shares of the construction company’s stock after acquiring an additional 8,524 shares during the quarter. Cetera Investment Advisers’ holdings in MasTec were worth $1,686,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MTZ. First Trust Advisors LP raised its holdings in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after acquiring an additional 373,145 shares during the period. Balyasny Asset Management L.P. increased its stake 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 acquired a new position in MasTec in the 4th quarter valued at approximately $46,612,000. Freestone Grove Partners LP acquired a new position in MasTec in the 4th quarter valued at approximately $31,730,000. Finally, JAT Capital Mgmt LP acquired a new position in MasTec in the 4th quarter valued at approximately $23,663,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling

In related news, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the transaction, the executive vice president owned 101,349 shares in the company, valued at $18,312,750.81. This trade represents a 8.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares in the company, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $4,018,570 in the last quarter. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Performance

Shares of MTZ opened at $181.46 on Friday. The company has a market capitalization of $14.32 billion, a PE ratio of 53.69 and a beta of 1.83. MasTec, Inc. has a one year low of $96.01 and a one year high of $194.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The company’s fifty day moving average price is $171.57 and its 200 day moving average price is $145.95.

MasTec (NYSE:MTZ) last announced 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 firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. As a group, analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTZ has been the topic of several research reports. TD Cowen upped their price objective on shares of MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Citigroup dropped their price objective on shares of MasTec from $220.00 to $219.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Monday, August 4th. Truist Financial set a $209.00 price objective on shares of MasTec in a research note on Monday. Finally, Roth Capital initiated coverage on shares of MasTec in a research note on Tuesday, July 1st. They issued a “buy” rating and a $210.00 price objective on the stock. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $195.12.

MasTec 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.