CWC Advisors LLC. Purchases New Stake in MasTec, Inc. (NYSE:MTZ)

CWC Advisors LLC. acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,605 shares of the construction company’s stock, valued at approximately $444,000.

Other hedge funds have also recently made changes to their positions in the company. State of Michigan Retirement System raised its holdings in shares of MasTec by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 14,839 shares of the construction company’s stock worth $1,384,000 after acquiring an additional 300 shares during the last quarter. DMC Group LLC boosted its position in shares of MasTec by 5.5% during the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after buying an additional 147 shares during the last quarter. Commonwealth Equity Services LLC raised its position in MasTec by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 48,751 shares of the construction company’s stock valued at $4,546,000 after buying an additional 267 shares during the last quarter. Van ECK Associates Corp bought a new position in MasTec during the 1st quarter valued at $9,163,000. Finally, BNP Paribas Financial Markets boosted its holdings in MasTec by 156.6% during the 1st quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company’s stock worth $1,805,000 after acquiring an additional 11,816 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 approximately $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the company’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 sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,800 shares of company stock valued at $2,978,212. Corporate insiders own 21.30% of the company’s stock.

MasTec Price Performance

MTZ opened at $121.95 on Friday. The firm has a 50-day moving average price of $118.00 and a 200-day moving average price of $108.48. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $130.22. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -871.07 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTZ. JPMorgan Chase & Co. began coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. DA Davidson lifted their target price 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. The Goldman Sachs Group upped their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup lifted their price target on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, B. Riley upped their price objective on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.