Emerald Advisers LLC Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Emerald Advisers LLC lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.3% during the third quarter, Holdings Channel reports. The firm owned 5,609 shares of the construction company’s stock after selling 134 shares during the quarter. Emerald Advisers LLC’s holdings in MasTec were worth $690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hobbs Group Advisors LLC bought a new position in shares of MasTec during the second quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new position in MasTec during the 2nd quarter valued at $40,000. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 144 shares in the last quarter. UMB Bank n.a. lifted its position 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 purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction 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 transaction, the director now directly owns 48,173 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MTZ. KeyCorp increased their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. B. Riley increased their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group raised their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their price target on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. began coverage on MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.00.

MasTec Stock Up 5.8 %

MTZ opened at $130.00 on Monday. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 116.07 and a beta of 1.70. The firm has a 50 day moving average price of $119.20 and a 200-day moving average price of $109.84. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $138.87. 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 (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.73% and a return on equity of 8.35%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that MasTec, Inc. will post 2.69 earnings per share for the current year.

MasTec Company 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.