Creative Planning Purchases New Position in MasTec, Inc. (NYSE:MTZ)

Creative Planning acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,656 shares of the construction company’s stock, valued at approximately $284,000.

Other large investors have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC boosted its stake in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec during the second quarter worth $40,000. Bessemer Group Inc. increased its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after buying an additional 598 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Down 0.1 %

Shares of MasTec stock opened at $127.15 on Friday. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $130.22. The business has a fifty day simple moving average of $116.10 and a 200 day simple moving average of $107.18. 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 stock has a market cap of $10.10 billion, a PE ratio of -907.14 and a beta of 1.70.

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

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction on 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 sale, the chief operating officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other 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 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 document filed with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now 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 sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. KeyCorp raised their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Truist Financial boosted their price objective on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup increased their price objective on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.62.

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.