PNC Financial Services Group Inc. Acquires 2,044 Shares of MasTec, Inc. $MTZ

PNC Financial Services Group Inc. boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 49.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,186 shares of the construction company’s stock after buying an additional 2,044 shares during the period. PNC Financial Services Group Inc.’s holdings in MasTec were worth $1,990,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MTZ. Brighton Jones LLC bought a new stake in shares of MasTec during the fourth quarter worth $227,000. NewEdge Advisors LLC boosted its stake in MasTec by 32.6% in the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock worth $514,000 after purchasing an additional 1,083 shares during the period. Sivia Capital Partners LLC acquired a new position in MasTec in the 2nd quarter worth $271,000. Northwestern Mutual Wealth Management Co. increased its holdings in MasTec by 105.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock worth $61,000 after purchasing an additional 182 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in MasTec by 793.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,027 shares of the construction company’s stock worth $175,000 after purchasing an additional 912 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $287.00 on Thursday. The company has a fifty day moving average price of $369.21 and a two-hundred day moving average price of $332.92. MasTec, Inc. has a one year low of $160.08 and a one year high of $441.43. The stock has a market cap of $22.68 billion, a P/E ratio of 50.26 and a beta of 1.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.41. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business earned $0.51 EPS. MasTec’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, equities analysts predict that MasTec, Inc. will post 9.18 EPS for the current year.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the completion of the transaction, the director directly owned 30,646 shares in the company, valued at approximately $12,779,382. The trade was a 8.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernst N. Csiszar sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the transaction, the director directly owned 10,816 shares in the company, valued at $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MTZ shares. Citigroup boosted their price target on MasTec from $440.00 to $483.00 and gave the company a “buy” rating in a report on Monday, May 4th. Roth Capital reissued a “buy” rating and issued a $450.00 target price on shares of MasTec in a research report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating and issued a $493.00 target price on shares of MasTec in a research note on Monday, May 4th. B. Riley Financial restated a “buy” rating on shares of MasTec in a research note on Monday, May 4th. Finally, Cantor Fitzgerald upped their price target on MasTec from $545.00 to $581.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Nineteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and an average target price of $466.89.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.