Bank of Montreal Can Sells 53,653 Shares of MasTec, Inc. (NYSE:MTZ)

Bank of Montreal Can trimmed its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,001 shares of the construction company's stock after selling 53,653 shares during the period. Bank of Montreal Can's holdings in MasTec were worth $2,042,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MTZ. Arrowstreet Capital Limited Partnership bought a new stake in shares of MasTec in the 4th quarter worth about $59,910,000. Barclays PLC increased its holdings in shares of MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after buying an additional 209,472 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of MasTec by 52.4% in the fourth quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock valued at $55,162,000 after acquiring an additional 139,235 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of MasTec in the 4th quarter worth approximately $17,776,000. Finally, Bank of New York Mellon Corp grew its position in MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock worth $75,787,000 after acquiring an additional 114,502 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Citigroup lifted their price objective on MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Stifel Nicolaus reduced their price target on shares of MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wolfe Research began coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating on the stock. Truist Financial dropped their target price on shares of MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Guggenheim reissued a "buy" rating and set a $195.00 price target on shares of MasTec in a research note on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and an average target price of $152.00.

MasTec Trading Down 1.1 %

NYSE MTZ opened at $117.41 on Thursday. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The stock has a 50-day simple moving average of $123.20 and a 200 day simple moving average of $132.84. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $9.31 billion, a PE ratio of 104.83 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. The company 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%. Research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

MasTec 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.

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