Bangor Savings Bank Sells 267 Shares of MasTec, Inc. (NYSE:MTZ)

Bangor Savings Bank reduced its position in MasTec, Inc. (NYSE:MTZ) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,440 shares of the construction company’s stock after selling 267 shares during the quarter. Bangor Savings Bank’s holdings in MasTec were worth $321,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MTZ. Vanguard Group Inc. boosted its stake in MasTec by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after acquiring an additional 33,592 shares in the last quarter. Nordea Investment Management AB boosted its stake in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after acquiring an additional 1,027,085 shares in the last quarter. Electron Capital Partners LLC boosted its stake in MasTec by 16.1% during the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after acquiring an additional 238,874 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of MasTec by 16.2% in the fourth quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock valued at $78,454,000 after buying an additional 144,180 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. The Goldman Sachs Group raised their price objective on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Stifel Nicolaus raised their price objective on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Robert W. Baird increased their target price on shares of MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Finally, DA Davidson increased their target price on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and a consensus price target of $116.23.

Insider Activity

In other news, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 50,725 shares in the company, valued at $5,579,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $106.67, for a total transaction of $304,009.50. Following the completion of the sale, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the director now owns 50,725 shares of the company’s stock, valued at $5,579,750. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

MasTec Trading Up 2.2 %

MTZ opened at $111.63 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $102.40 and a 200-day moving average price of $86.02. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.33. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. As a group, analysts predict that MasTec, Inc. will post 2.58 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.