Custom Index Systems LLC Invests $458,000 in MasTec, Inc. (NYSE:MTZ)

Custom Index Systems LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,721 shares of the construction company’s stock, valued at approximately $458,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in shares of MasTec by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company’s stock valued at $863,000 after buying an additional 485 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in MasTec by 239.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,157 shares of the construction company’s stock valued at $1,127,000 after acquiring an additional 6,462 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in MasTec by 7.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 13,159 shares of the construction company’s stock valued at $1,620,000 after acquiring an additional 862 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in MasTec in the third quarter worth approximately $84,000. Finally, CWC Advisors LLC. acquired a new position in shares of MasTec during the 3rd quarter worth $444,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Truist Financial upped their price target on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. KeyCorp raised their price objective on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Stifel Nicolaus lifted their price target on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Citigroup upped their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

Insiders Place Their Bets

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

MasTec Trading Down 0.5 %

MasTec stock opened at $121.95 on Monday. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $130.22. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of -871.07 and a beta of 1.70. The business has a 50 day moving average price of $118.00 and a two-hundred day moving average price of $108.72. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. MasTec’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. As a group, equities analysts forecast that MasTec, Inc. will post 2.69 EPS for the current 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.