Envestnet Asset Management Inc. increased its stake in MasTec, Inc. (NYSE:MTZ) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,681 shares of the construction company’s stock after buying an additional 197 shares during the period. Envestnet Asset Management Inc.’s holdings in MasTec were worth $107,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock valued at $101,000 after buying an additional 1,725 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of MasTec during the fourth quarter valued at approximately $107,000. Advisory Services Network LLC acquired a new stake in shares of MasTec during the first quarter valued at approximately $131,000. Smith Salley & Associates acquired a new stake in shares of MasTec during the first quarter valued at approximately $210,000. Finally, Barings LLC acquired a new stake in shares of MasTec during the fourth quarter valued at approximately $252,000. 69.09% of the stock is owned by institutional investors and hedge funds.

Shares of MasTec, Inc. (NYSE:MTZ) opened at 45.90 on Friday. The firm has a market cap of $3.71 billion, a PE ratio of 21.54 and a beta of 1.44. MasTec, Inc. has a 52-week low of $22.03 and a 52-week high of $47.90. The company’s 50-day moving average price is $43.51 and its 200-day moving average price is $40.55.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.08. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.06 billion. MasTec had a net margin of 3.29% and a return on equity of 18.02%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS. Equities analysts expect that MasTec, Inc. will post $2.46 earnings per share for the current fiscal year.

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Several brokerages have recently commented on MTZ. DA Davidson raised their target price on MasTec from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, May 8th. FBR & Co raised their target price on MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Vetr raised MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 target price for the company in a research report on Thursday, May 25th. Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Credit Suisse Group began coverage on MasTec in a research report on Monday, April 3rd. They issued a “neutral” rating and a $42.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.40.

In related news, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the transaction, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jose S. Sorzano sold 2,391 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $45.56, for a total transaction of $108,933.96. Following the completion of the transaction, the director now directly owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,391 shares of company stock valued at $1,775,434. Company insiders own 20.30% of the company’s stock.

About MasTec

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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