nVerses Capital LLC Purchases 600 Shares of MasTec, Inc. (NYSE:MTZ)

nVerses Capital LLC raised its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,600 shares of the construction company’s stock after acquiring an additional 600 shares during the quarter. nVerses Capital LLC’s holdings in MasTec were worth $320,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MTZ. Hobbs Group Advisors LLC bought a new stake in MasTec during the 2nd quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in MasTec in the 2nd quarter valued at $40,000. GAMMA Investing LLC boosted 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 valued at $39,000 after purchasing an additional 144 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after buying an additional 138 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. DA Davidson lifted their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus upped 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. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. B. Riley boosted their target price on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group increased their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 owns 48,173 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. In other MasTec news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $28,140,916.08. This trade represents 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, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred 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 directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,800 shares of company stock worth $2,978,212 in the last three months. Corporate insiders own 21.30% of the company’s stock.

MasTec Price Performance

MTZ opened at $127.15 on Friday. The business has a fifty day moving average of $116.10 and a 200 day moving average of $107.18. The stock has a market cap of $10.10 billion, a P/E ratio of -908.21 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $130.22.

MasTec (NYSE:MTZ) last issued its earnings results 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 firm 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%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. As a group, sell-side analysts anticipate that MasTec, Inc. will post 2.69 EPS for the current year.

About MasTec

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.