Charles Schwab Investment Management Inc. Buys 611 Shares of MasTec, Inc. $MTZ

Charles Schwab Investment Management Inc. lifted its stake in MasTec, Inc. (NYSE:MTZ) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612,487 shares of the construction company’s stock after acquiring an additional 611 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.78% of MasTec worth $104,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in MasTec by 48.6% in the second quarter. American Century Companies Inc. now owns 39,844 shares of the construction company’s stock worth $6,791,000 after purchasing an additional 13,037 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of MasTec by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 170,802 shares of the construction company’s stock valued at $29,110,000 after buying an additional 2,176 shares during the period. Evelyn Partners Asset Management Ltd purchased a new position in shares of MasTec in the 2nd quarter worth $43,000. Legal & General Group Plc grew its holdings in shares of MasTec by 3.3% in the second quarter. Legal & General Group Plc now owns 103,237 shares of the construction company’s stock worth $17,595,000 after acquiring an additional 3,273 shares during the period. Finally, Hillsdale Investment Management Inc. increased its position in MasTec by 206.6% during the second quarter. Hillsdale Investment Management Inc. now owns 21,220 shares of the construction company’s stock valued at $3,617,000 after acquiring an additional 14,300 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of NYSE MTZ opened at $212.01 on Friday. The stock has a market cap of $16.73 billion, a PE ratio of 62.72 and a beta of 1.88. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03. The firm has a fifty day moving average price of $205.08 and a 200-day moving average price of $183.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19.

Analysts Set New Price Targets

A number of research firms have issued reports on MTZ. Truist Financial boosted their price target on MasTec from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Roth Capital boosted their target price on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group increased their price target on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Stifel Nicolaus upped their price objective on MasTec from $198.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.44.

Insider Activity at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the sale, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. This trade represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer directly owned 184,249 shares in the company, valued at $36,930,869.56. This trade represents a 5.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,929 shares of company stock valued at $3,394,013. 21.30% of the stock is owned by company insiders.

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.