MasTec, Inc. (NYSE:MTZ) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC lifted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,804 shares of the construction company's stock after buying an additional 4,001 shares during the quarter. MML Investors Services LLC's holdings in MasTec were worth $3,241,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTZ. New York State Teachers Retirement System lifted its position in MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company's stock valued at $4,398,000 after acquiring an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock worth $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of MasTec by 286.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock valued at $2,433,000 after purchasing an additional 13,241 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of MasTec in the 4th quarter valued at about $415,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of MasTec in the 4th quarter valued at about $485,000. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Stock Up 1.8 %

MTZ stock opened at $125.09 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company's 50-day moving average price is $120.35 and its 200 day moving average price is $132.48. MasTec, Inc. has a 52 week low of $86.12 and a 52 week high of $166.95. The company has a market cap of $9.89 billion, a P/E ratio of 111.69 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of research reports. KeyCorp reduced their price objective on MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Wolfe Research started coverage on shares of MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Piper Sandler started coverage on shares of MasTec in a research note on Tuesday, April 8th. They set an "overweight" rating and a $134.00 target price for the company. Finally, Citigroup dropped their price target on MasTec from $167.00 to $152.00 and set a "buy" rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $151.00.

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.

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