GAMMA Investing LLC Buys 146 Shares of MasTec, Inc. (NYSE:MTZ)

GAMMA Investing LLC lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 39.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 512 shares of the construction company’s stock after buying an additional 146 shares during the period. GAMMA Investing LLC’s holdings in MasTec were worth $63,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new stake in MasTec during the second quarter worth about $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $40,000. Quarry LP bought a new position in MasTec in the fourth quarter valued at approximately $37,000. Blue Trust Inc. raised its position in MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares in the last quarter. Finally, Rise Advisors LLC lifted its stake in MasTec by 200.0% during the second quarter. Rise Advisors LLC now owns 588 shares of the construction company’s stock worth $63,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,800 shares of company stock valued at $2,978,212. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MTZ shares. Truist Financial raised their target price on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. DA Davidson increased their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price objective on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average target price of $127.62.

MasTec Stock Down 0.0 %

MasTec stock opened at $125.37 on Wednesday. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22. The firm has a 50 day simple moving average of $114.85 and a 200 day simple moving average of $106.67. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of -895.57 and a beta of 1.70.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that MasTec, Inc. will post 2.69 earnings per share for the current year.

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.