Second Line Capital LLC Sells 8,754 Shares of MasTec, Inc. (NYSE:MTZ)

Second Line Capital LLC trimmed its holdings in MasTec, Inc. (NYSE:MTZ) by 29.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,272 shares of the construction company’s stock after selling 8,754 shares during the quarter. Second Line Capital LLC’s holdings in MasTec were worth $2,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MTZ. Blue Trust Inc. lifted its holdings in shares of MasTec by 32.6% in the 2nd 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 lifted its stake in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. DMC Group LLC lifted its stake in shares of MasTec by 5.5% in the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after purchasing an additional 147 shares during the last quarter. MONECO Advisors LLC boosted its holdings in shares of MasTec by 4.8% in the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after purchasing an additional 150 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of MasTec by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 0.1 %

Shares of NYSE:MTZ opened at $122.80 on Monday. 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 business’s 50 day moving average is $110.53 and its 200 day moving average is $103.79. The stock has a market cap of $9.76 billion, a P/E ratio of -877.14 and a beta of 1.70. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $127.97.

MasTec (NYSE:MTZ) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Sell-side analysts predict that MasTec, Inc. will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of analyst reports. Citigroup raised 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. Stifel Nicolaus lifted their price target on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Truist Financial reiterated a “hold” rating and set a $112.00 price target (up from $109.00) on shares of MasTec in a report on Monday, August 5th. B. Riley boosted their target price on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, DA Davidson upped their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

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 that occurred on 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 completion of the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction 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 transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

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.