MasTec, Inc. (NYSE:MTZ) Shares Sold by DnB Asset Management AS

DnB Asset Management AS reduced its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 14.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,115 shares of the construction company's stock after selling 46,452 shares during the quarter. DnB Asset Management AS owned about 0.34% of MasTec worth $36,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MTZ. State Street Corp increased its stake 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. Geode Capital Management LLC grew its stake in shares of MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock worth $126,370,000 after acquiring an additional 16,844 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after acquiring an additional 279,778 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MasTec by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock valued at $77,592,000 after purchasing an additional 7,469 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in MasTec by 25.9% in 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 purchasing an additional 114,502 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

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MasTec Trading Up 1.1 %

Shares of NYSE MTZ traded up $1.30 during trading on Tuesday, reaching $118.01. The stock had a trading volume of 299,184 shares, compared to its average volume of 904,384. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market cap of $9.36 billion, a P/E ratio of 105.31 and a beta of 1.74. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The business's 50-day moving average price is $131.96 and its 200-day moving average price is $133.67.

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, topping the consensus estimate of $1.28 by $0.08. The firm 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%. On average, equities research analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MTZ shares. KeyCorp raised their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. B. Riley reiterated 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. Robert W. Baird dropped their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Barclays lifted their price target on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. Three research 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.07.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value 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. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.30% of the company's stock.

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.