Fielder Capital Group LLC Buys 173 Shares of MasTec, Inc. (NYSE:MTZ)

Fielder Capital Group LLC grew its stake in MasTec, Inc. (NYSE:MTZ) by 9.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,989 shares of the construction company’s stock after purchasing an additional 173 shares during the period. Fielder Capital Group LLC’s holdings in MasTec were worth $232,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Hood River Capital Management LLC lifted its holdings in shares of MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock worth $208,444,000 after acquiring an additional 51,531 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of MasTec by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after acquiring an additional 91,564 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after acquiring an additional 373,145 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of MasTec by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company’s stock worth $65,440,000 after acquiring an additional 4,024 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 2.6%

MTZ opened at $186.45 on Monday. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 68.55 and a beta of 1.75. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $188.74. The stock has a fifty day moving average price of $165.92 and a 200-day moving average price of $143.71.

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

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated 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 directly owned 39,782 shares of the company’s stock, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The sale was disclosed in a filing 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 dated Wednesday, July 16th. The shares were 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 in the company, valued at $33,993,575. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MTZ shares. Jefferies Financial Group started coverage on MasTec in a research note on Friday, May 16th. They set a “buy” rating and a $188.00 price target for the company. Wolfe Research began coverage on MasTec in a research note on Monday, March 31st. They set a “peer perform” rating for the company. Barclays reiterated an “overweight” rating and set a $200.00 price objective (up previously from $145.00) on shares of MasTec in a report on Monday, July 21st. Guggenheim reiterated a “buy” rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Finally, Truist Financial lifted their price objective on shares of MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $176.94.

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.