Russell Investments Group Ltd. Increases Stock Position in MasTec, Inc. (NYSE:MTZ)

Russell Investments Group Ltd. grew its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,944 shares of the construction company's stock after purchasing an additional 2,416 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of MasTec worth $16,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allworth Financial LP lifted its holdings in shares of MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock worth $81,000 after buying an additional 78 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of MasTec by 0.5% during the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after purchasing an additional 89 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company's stock worth $423,000 after buying an additional 94 shares during the period. Fielder Capital Group LLC raised its stake in MasTec by 6.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock worth $247,000 after buying an additional 105 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock worth $67,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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MasTec Price Performance

Shares of MTZ traded up $1.30 during trading hours on Tuesday, reaching $119.50. 109,728 shares of the company traded hands, compared to its average volume of 931,263. The stock has a market capitalization of $9.48 billion, a PE ratio of 106.78 and a beta of 1.62. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $124.28 and a 200 day simple moving average of $133.05.

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

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 21.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MTZ shares. Wolfe Research started coverage on shares of MasTec in a research note on Monday, March 31st. They set a "peer perform" rating for the company. Piper Sandler began coverage on MasTec in a report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price target for the company. Barclays increased their target price on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Finally, Citigroup upped their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $153.87.

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.