Abacus FCF Advisors LLC Boosts Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Abacus FCF Advisors LLC boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,517 shares of the construction company’s stock after purchasing an additional 198 shares during the period. Abacus FCF Advisors LLC’s holdings in MasTec were worth $877,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New York State Teachers Retirement System raised its stake in MasTec by 21.7% during the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after purchasing an additional 5,750 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of MasTec by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock worth $1,883,000 after acquiring an additional 105 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of MasTec in the fourth quarter worth $239,000. Envestnet Asset Management Inc. increased its position in shares of MasTec by 37.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 34,593 shares of the construction company’s stock worth $4,710,000 after acquiring an additional 9,434 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of MasTec by 16.7% in the fourth quarter. Stifel Financial Corp now owns 11,788 shares of the construction company’s stock worth $1,605,000 after acquiring an additional 1,683 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

MTZ opened at $162.66 on Tuesday. The company has a fifty day simple moving average of $137.34 and a 200 day simple moving average of $136.56. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 145.23 and a beta of 1.75. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned ($0.13) EPS. Equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares of the company’s stock, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm’s 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 transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MTZ shares. Wall Street Zen raised shares of MasTec from a “buy” rating to a “strong-buy” rating in a research report on Monday. Truist Financial increased their price objective on shares of MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Jefferies Financial Group started coverage on shares of MasTec in a research report on Friday, May 16th. They issued a “buy” rating and a $188.00 price objective for the company. Guggenheim reissued a “buy” rating and issued a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. Finally, Robert W. Baird dropped their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, MasTec has an average rating of “Buy” and a consensus price target of $166.75.

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.