Alliancebernstein L.P. decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,144,726 shares of the construction company's stock after selling 264,118 shares during the quarter. Alliancebernstein L.P. owned about 1.44% of MasTec worth $155,843,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in MTZ. Quantbot Technologies LP bought a new position in MasTec during the third quarter worth $405,000. FMR LLC raised its position in shares of MasTec by 18.1% during the third quarter. FMR LLC now owns 3,382 shares of the construction company's stock valued at $416,000 after buying an additional 518 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of MasTec by 668.2% in the third quarter. BNP Paribas Financial Markets now owns 28,792 shares of the construction company's stock valued at $3,544,000 after buying an additional 25,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MasTec by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 342,318 shares of the construction company's stock worth $42,139,000 after buying an additional 1,421 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in MasTec by 140.6% during the third quarter. Captrust Financial Advisors now owns 4,541 shares of the construction company's stock valued at $559,000 after acquiring an additional 2,654 shares during the period. 78.10% of the stock is owned by institutional investors.
Insider Transactions at MasTec
In related news, Director Ernst N. Csiszar sold 2,517 shares of MasTec 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 sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.30% of the stock is currently owned by corporate insiders.
MasTec Price Performance
Shares of NYSE:MTZ traded down $6.13 during midday trading on Friday, reaching $105.87. The company's stock had a trading volume of 2,165,647 shares, compared to its average volume of 920,211. The business's fifty day simple moving average is $128.35 and its 200-day simple moving average is $133.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The company has a market capitalization of $8.39 billion, a P/E ratio of 94.53 and a beta of 1.74.
MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on MTZ shares. Stifel Nicolaus lowered their price objective on MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Barclays boosted their price target on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Wolfe Research assumed coverage on shares of MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Finally, 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, March 19th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.07.
Read Our Latest Research Report on MTZ
About MasTec
(
Free Report)
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.
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