Net Worth Advisory Group Invests $416,000 in MasTec, Inc. (NYSE:MTZ)

Net Worth Advisory Group purchased a new stake in MasTec, Inc. (NYSE:MTZ) during the third quarter, HoldingsChannel.com reports. The firm purchased 3,381 shares of the construction company’s stock, valued at approximately $416,000.

Several other large investors have also recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of MasTec during the first quarter worth approximately $785,000. Swedbank AB acquired a new stake in MasTec during the first quarter worth about $5,287,000. Interval Partners LP acquired a new stake in shares of MasTec in the 1st quarter valued at approximately $4,230,000. Boston Partners bought a new stake in shares of MasTec during the 1st quarter valued at approximately $748,000. Finally, Texas Permanent School Fund Corp increased its position in MasTec by 8.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after purchasing an additional 4,716 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 800 shares of the company’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 transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Robert E. Apple sold 800 shares of the company’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 transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,800 shares of company stock valued at $2,978,212 over the last ninety days. 21.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. B. Riley boosted their target price on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus raised their price target on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. KeyCorp raised their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. DA Davidson lifted their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.62.

MasTec Stock Performance

NYSE:MTZ opened at $127.15 on Friday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $130.22. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The stock has a market cap of $10.10 billion, a P/E ratio of -908.21 and a beta of 1.70. The business’s 50-day moving average price is $116.51 and its two-hundred day moving average price is $107.52.

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

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.