MasTec, Inc. (NYSE:MTZ) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,688 shares of the construction company’s stock after selling 667 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MasTec were worth $230,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System boosted its position in shares of MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after acquiring an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of MasTec by 45.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after acquiring an additional 8,948 shares in the last quarter. Atom Investors LP boosted its position in shares of MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after acquiring an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 13,241 shares in the last quarter. Finally, State Street Corp boosted its position in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MTZ shares. Barclays raised their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. B. Riley restated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research note on Wednesday. Truist Financial raised their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, KeyCorp raised their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Stock Up 0.6 %

MTZ opened at $126.75 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50 day simple moving average of $135.98 and a 200-day simple moving average of $132.40. The stock has a market capitalization of $10.05 billion, a P/E ratio of 113.17 and a beta of 1.74. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.