PharVision Advisers LLC Acquires Shares of 1,642 MasTec, Inc. (NYSE:MTZ)

PharVision Advisers LLC acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,642 shares of the construction company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTZ. New York State Teachers Retirement System raised its holdings in shares of 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 buying an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in MasTec by 45.8% in 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 during the period. Exchange Traded Concepts LLC grew its position in shares of MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after buying an additional 13,241 shares during the period. Merit Financial Group LLC acquired a new position in shares of MasTec during the 4th quarter worth about $415,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of MasTec by 0.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock worth $1,883,000 after buying an additional 105 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

MasTec stock opened at $150.60 on Friday. The stock’s 50 day moving average is $129.04 and its 200 day moving average is $135.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market cap of $11.88 billion, a P/E ratio of 134.46 and a beta of 1.71. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95.

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

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MTZ shares. Guggenheim restated a “buy” rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Jefferies Financial Group assumed coverage on MasTec in a report on Friday, May 16th. They set a “buy” rating and a $188.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Wolfe Research assumed coverage on MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus boosted their target price on MasTec from $143.00 to $171.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $162.06.

MasTec 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.