Sei Investments Co. Has $11.96 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

Sei Investments Co. cut its holdings in MasTec, Inc. (NYSE:MTZ) by 20.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,783 shares of the construction company’s stock after selling 29,605 shares during the quarter. Sei Investments Co. owned about 0.14% of MasTec worth $11,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wells Fargo & Company MN boosted its stake in shares of MasTec by 7.7% during the 4th quarter. Wells Fargo & Company MN now owns 99,110 shares of the construction company’s stock worth $7,505,000 after acquiring an additional 7,050 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in MasTec in the 4th quarter worth approximately $503,000. Treasurer of the State of North Carolina boosted its position in MasTec by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 27,571 shares of the construction company’s stock worth $2,088,000 after purchasing an additional 270 shares during the period. TFO Wealth Partners LLC grew its holdings in MasTec by 69,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,097 shares of the construction company’s stock valued at $159,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of MasTec by 27.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,011 shares of the construction company’s stock worth $379,000 after buying an additional 1,071 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

NYSE MTZ opened at $122.74 on Friday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $127.97. 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 $9.75 billion, a P/E ratio of -876.71 and a beta of 1.70. The company’s 50-day simple moving average is $110.53 and its 200 day simple moving average is $103.56.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The business 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 in the prior year, the firm posted $0.81 EPS. As a group, research analysts forecast that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DA Davidson raised their target price 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. Stifel Nicolaus boosted their price objective on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial reaffirmed a “hold” rating and issued a $112.00 target price (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Citigroup lifted their price target on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, B. Riley raised their price objective 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. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

MasTec 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.