Sequoia Financial Advisors LLC Purchases Shares of 2,355 MasTec, Inc. (NYSE:MTZ)

Sequoia Financial Advisors LLC purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the third quarter, Holdings Channel reports. The firm purchased 2,355 shares of the construction company’s stock, valued at approximately $290,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in shares of MasTec in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC boosted its stake in shares of MasTec by 64.9% in 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 during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec in the 2nd quarter worth approximately $40,000. UMB Bank n.a. boosted its stake in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in 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 purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MTZ. Citigroup upped their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial upped their price objective on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. KeyCorp boosted their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, DA Davidson boosted their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 800 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Robert E. Apple sold 20,000 shares of the firm’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 sale, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 800 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $2,978,212 over the last three months. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Performance

MasTec stock opened at $123.70 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average of $118.21 and a 200-day moving average of $108.94. The firm has a market cap of $9.83 billion, a P/E ratio of -883.57 and a beta of 1.70. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22.

MasTec (NYSE:MTZ) last posted 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. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $0.81 earnings per share. MasTec’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts expect 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.