CWC Advisors LLC. Takes $444,000 Position in MasTec, Inc. (NYSE:MTZ)

CWC Advisors LLC. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,605 shares of the construction company’s stock, valued at approximately $444,000.

Other hedge funds have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC bought a new stake in MasTec during the second quarter worth $27,000. GAMMA Investing LLC raised its holdings in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after buying an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec during the 2nd quarter worth $40,000. UMB Bank n.a. boosted its stake in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in 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 acquiring an additional 598 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. 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 over the last 90 days. Company insiders own 21.30% of the company’s stock.

MasTec Stock Down 0.5 %

MasTec stock opened at $121.95 on Friday. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of -871.07 and a beta of 1.70. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $130.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The firm has a 50 day moving average price of $118.00 and a two-hundred day moving average price of $108.48.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTZ. Stifel Nicolaus raised their price target on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. started coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. B. Riley upped their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. KeyCorp raised their price objective on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Truist Financial boosted their price objective on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

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.