Vanguard Group Inc. Trims Holdings in MasTec, Inc. (NYSE:MTZ)

Vanguard Group Inc. decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,754,086 shares of the construction company’s stock after selling 253,637 shares during the period. Vanguard Group Inc. owned 7.26% of MasTec worth $783,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MTZ. New York State Teachers Retirement System raised its holdings in shares of MasTec by 21.7% during the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after acquiring an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Atom Investors LP lifted its position in shares of MasTec by 979.0% in the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after purchasing an additional 55,363 shares during the period. Exchange Traded Concepts LLC boosted its stake 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 valued at $2,433,000 after purchasing an additional 13,241 shares in the last quarter. Finally, State Street Corp increased its position in shares of MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after buying an additional 24,522 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays lifted their price objective on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup boosted their target price on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

MasTec Trading Down 3.0 %

NYSE:MTZ opened at $115.22 on Friday. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 102.87 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average price is $132.73 and its 200-day moving average price is $133.45. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for 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 research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.