MasTec, Inc. (NYSE:MTZ) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,350 shares of the construction company’s stock after selling 250 shares during the period. Moors & Cabot Inc.’s holdings in MasTec were worth $1,107,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. boosted its stake in shares of 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 acquiring an additional 138 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares during the last quarter. DMC Group LLC lifted its position in MasTec by 5.5% during the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after buying an additional 147 shares during the period. MONECO Advisors LLC lifted its position in MasTec by 4.8% during the fourth quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after buying an additional 150 shares during the period. Finally, New York State Teachers Retirement System lifted its position in MasTec by 0.8% during the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $2,476,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

MTZ stock opened at $116.95 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $121.26. The firm has a market cap of $9.29 billion, a P/E ratio of -835.36 and a beta of 1.70. The stock has a 50-day simple moving average of $107.85 and a 200-day simple moving average of $101.95.

MasTec (NYSE:MTZ) last posted its 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 business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MTZ has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial reiterated a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. B. Riley increased their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Citigroup increased their target price on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, DA Davidson increased their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.50.

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.