MasTec, Inc. (NYSE:MTZ) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 298,392 shares of the construction company’s stock after selling 46,339 shares during the quarter. The Manufacturers Life Insurance Company owned 0.38% of MasTec worth $31,925,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Electron Capital Partners LLC increased its holdings in shares of MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after purchasing an additional 238,874 shares in the last quarter. Pacer Advisors Inc. increased its holdings in MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares in the last quarter. Hood River Capital Management LLC increased its holdings in MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after buying an additional 446,762 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of MasTec by 42.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of MasTec by 96.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after acquiring an additional 502,039 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Price Performance

NYSE:MTZ opened at $122.87 on Tuesday. The stock has a 50 day moving average price of $110.81 and a 200 day moving average price of $104.06. MasTec, Inc. has a one year low of $44.65 and a one year high of $127.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The stock has a market cap of $9.76 billion, a PE ratio of -877.64 and a beta of 1.70.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating 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 net margin of 0.06% and a return on equity of 6.42%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. Equities research analysts expect that MasTec, Inc. will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Truist Financial restated a “hold” rating and issued a $112.00 price target (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th. Citigroup upped their target price on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. DA Davidson lifted their price target 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. B. Riley upped their price objective on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus lifted their target price on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research report 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $117.50.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director C Robert Campbell sold 3,000 shares of the 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 of the company’s stock, valued at approximately $5,600,592.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 owns 217,202 shares in the company, valued at $27,426,096.54. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

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.