Access Financial Services Inc. Acquires New Holdings in MasTec, Inc. $MTZ

Access Financial Services Inc. purchased a new stake in MasTec, Inc. (NYSE:MTZ) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,316 shares of the construction company’s stock, valued at approximately $922,000.

Other hedge funds have also added to or reduced their stakes in the company. Earned Wealth Advisors LLC increased its holdings in MasTec by 2.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company’s stock worth $326,000 after buying an additional 28 shares during the last quarter. Everhart Financial Group Inc. grew its position in shares of MasTec by 5.4% in the 2nd quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company’s stock valued at $364,000 after acquiring an additional 45 shares during the period. Armstrong Advisory Group Inc. increased its stake in shares of MasTec by 40.7% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 197 shares of the construction company’s stock worth $42,000 after purchasing an additional 57 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of MasTec by 21.0% during the 1st quarter. Parallel Advisors LLC now owns 340 shares of the construction company’s stock worth $109,000 after purchasing an additional 59 shares during the last quarter. Finally, North Dakota State Investment Board raised its holdings in shares of MasTec by 3.2% in the 3rd quarter. North Dakota State Investment Board now owns 1,909 shares of the construction company’s stock valued at $408,000 after purchasing an additional 60 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

MasTec stock traded down $2.26 during trading hours on Friday, hitting $182.84. The company had a trading volume of 977,455 shares, compared to its average volume of 1,922,387. The firm has a market cap of $14.68 billion, a PE ratio of 29.88 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.39 and a quick ratio of 1.36. MasTec, Inc. has a one year low of $147.49 and a one year high of $441.43. The firm has a 50-day moving average of $202.89 and a 200 day moving average of $297.54.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.01. MasTec had a return on equity of 17.89% and a net margin of 2.80%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. On average, sell-side analysts expect that MasTec, Inc. will post 8.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTZ has been the subject of several recent analyst reports. KeyCorp cut their target price on shares of MasTec from $371.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Mizuho set a $352.00 price target on MasTec in a research report on Wednesday, October 7th. Citigroup dropped their price objective on MasTec from $408.00 to $308.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Roth Capital reaffirmed a “buy” rating and issued a $380.00 price objective (down from $500.00) on shares of MasTec in a research report on Monday, November 2nd. Finally, UBS Group reduced their target price on MasTec from $453.00 to $410.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $345.60.

Insiders Place Their Bets

In related news, CAO Timothy Love sold 366 shares of MasTec stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $198.52, for a total transaction of $72,658.32. Following the completion of the sale, the chief accounting officer directly owned 9,926 shares of the company’s stock, valued at approximately $1,970,509.52. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 21.40% of the company’s stock.

MasTec Company Profile

MasTec, Inc. is an infrastructure construction and engineering company that builds and maintains systems used to deliver energy, communications and other essential services. Its work includes planning, installation, upgrading and maintenance of infrastructure for customers across a range of industries. The company’s activities include communications networks such as fiber and wireless systems; electric power transmission and distribution; clean-energy and other infrastructure projects; and pipelines and related facilities.