Pacer Advisors Inc. Increases Stake in MasTec, Inc. (NYSE:MTZ)

Pacer Advisors Inc. boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 15,067.0% during the 2nd quarter, Holdings Channel reports. The firm owned 1,365,638 shares of the construction company’s stock after acquiring an additional 1,356,634 shares during the quarter. Pacer Advisors Inc.’s holdings in MasTec were worth $146,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. increased 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 purchasing an additional 138 shares during the period. GAMMA Investing LLC grew its position 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 acquiring an additional 144 shares during the period. DMC Group LLC boosted its holdings in MasTec by 5.5% in the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after buying an additional 147 shares during the last quarter. MONECO Advisors LLC lifted its holdings in MasTec by 4.8% in the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock valued at $249,000 after purchasing an additional 150 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in MasTec by 0.8% during the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $2,476,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MTZ. The Goldman Sachs Group increased their target price on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Stifel Nicolaus increased their price target on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. B. Riley boosted their price objective on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Citigroup increased their target price on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.50.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.30% of the company’s stock.

MasTec Stock Performance

NYSE:MTZ opened at $126.14 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $127.97. The firm’s fifty day moving average price is $108.63 and its 200 day moving average price is $102.37. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of -901.00 and a beta of 1.70.

MasTec (NYSE:MTZ) last released its quarterly 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 business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. On average, sell-side analysts expect that MasTec, Inc. will post 2.71 EPS for the current year.

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.