SG Americas Securities LLC Purchases Shares of 45,728 MasTec, Inc. (NYSE:MTZ)

SG Americas Securities LLC acquired a new position in MasTec, Inc. (NYSE:MTZ) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 45,728 shares of the construction company’s stock, valued at approximately $5,337,000. SG Americas Securities LLC owned about 0.06% of MasTec as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in MasTec during the 4th quarter valued at approximately $227,000. Stratos Wealth Partners LTD. purchased a new position in shares of MasTec during the fourth quarter worth $208,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in MasTec during the fourth quarter valued at $1,480,000. Asset Management One Co. Ltd. boosted its stake in shares of MasTec by 8.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 40,981 shares of the construction company’s stock worth $5,562,000 after buying an additional 3,281 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in MasTec by 21.7% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ opened at $163.26 on Friday. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The firm’s 50 day moving average price is $140.53 and its 200 day moving average price is $137.03. 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 company has a market cap of $12.88 billion, a P/E ratio of 145.77 and a beta of 1.75.

MasTec (NYSE:MTZ) last announced 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 business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was 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. Also, Director C Robert Campbell sold 3,000 shares of the 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 in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTZ. KeyCorp increased their price target on MasTec from $140.00 to $163.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Wall Street Zen upgraded MasTec from a “buy” rating to a “strong-buy” rating in a research report on Monday. Wolfe Research assumed coverage on shares of MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating on the stock. Guggenheim reissued a “buy” rating and set a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. Finally, The Goldman Sachs Group upgraded MasTec from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $156.00 to $195.00 in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Buy” and an average price target of $166.75.

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.