5,596 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd acquired a new stake in MasTec, Inc. (NYSE:MTZ) during the third quarter, according to its most recent filing with the SEC. The firm acquired 5,596 shares of the construction company’s stock, valued at approximately $689,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTZ. Hobbs Group Advisors LLC bought a new position in MasTec in the second quarter valued at about $27,000. GAMMA Investing LLC lifted its position in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec in the 2nd quarter valued at about $40,000. UMB Bank n.a. grew its position in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after buying an additional 598 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTZ. KeyCorp raised their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Citigroup upped their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. began coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. Finally, Truist Financial increased their price target on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.00.

MasTec Stock Performance

Shares of MTZ stock traded down $0.07 on Thursday, hitting $122.25. The company’s stock had a trading volume of 64,120 shares, compared to its average volume of 843,388. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $130.22. The company has a market capitalization of $9.71 billion, a PE ratio of -881.29 and a beta of 1.70. The stock’s 50 day moving average is $117.54 and its 200-day moving average is $108.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities research analysts expect that MasTec, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock valued at $2,978,212 in the last three months. Corporate insiders own 21.30% of the company’s stock.

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.