Vontobel Holding Ltd. Buys 31,266 Shares of MasTec, Inc. (NYSE:MTZ)

Vontobel Holding Ltd. lifted its position in MasTec, Inc. (NYSE:MTZ) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 531,393 shares of the construction company’s stock after purchasing an additional 31,266 shares during the quarter. Vontobel Holding Ltd. owned 0.67% of MasTec worth $65,414,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MTZ. Pacer Advisors Inc. lifted its position in MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in MasTec during the 2nd quarter valued at about $79,494,000. Hood River Capital Management LLC raised its position in MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the last quarter. AQR Capital Management LLC lifted its holdings in MasTec by 3,439.7% in the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after buying an additional 255,088 shares during the period. Finally, Appian Way Asset Management LP bought a new stake in shares of MasTec in the 1st quarter worth approximately $12,000,000. 78.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup raised their price objective on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. B. Riley lifted their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. initiated coverage on MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. Stifel Nicolaus raised their price target on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group increased their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus target price of $127.62.

MasTec Trading Up 3.1 %

NYSE MTZ traded up $3.93 during trading on Wednesday, hitting $129.31. The stock had a trading volume of 143,214 shares, compared to its average volume of 851,921. MasTec, Inc. has a one year low of $44.65 and a one year high of $130.22. The stock has a 50 day simple moving average of $114.85 and a 200 day simple moving average of $106.67. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of -895.50 and a beta of 1.70. 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 posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. MasTec’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Sell-side analysts predict that MasTec, Inc. will post 2.69 earnings per share for the current year.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The shares were 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 directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,800 shares of company stock worth $2,978,212. 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.