DRW Securities LLC Sells 3,700 Shares of MasTec, Inc. (NYSE:MTZ)

DRW Securities LLC cut its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 23.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,300 shares of the construction company's stock after selling 3,700 shares during the quarter. DRW Securities LLC's holdings in MasTec were worth $1,675,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership purchased a new position in MasTec during the fourth quarter valued at $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 valued at $29,797,000 after acquiring an additional 209,472 shares in the last quarter. Prudential Financial Inc. raised its position in shares of MasTec by 52.4% in the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock worth $55,162,000 after purchasing an additional 139,235 shares during the last quarter. Raymond James Financial Inc. bought a new position in MasTec in the 4th quarter worth about $17,776,000. Finally, Renaissance Technologies LLC purchased a new stake in MasTec during the 4th quarter valued at about $16,571,000. 78.10% of the stock is currently owned by institutional investors.

Insider Activity

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 21.30% of the company's stock.

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MasTec Price Performance

MasTec stock traded up $0.35 during mid-day trading on Monday, hitting $117.33. The stock had a trading volume of 149,694 shares, compared to its average volume of 932,389. 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 firm's 50 day moving average is $124.67 and its 200 day moving average is $133.08. The firm has a market capitalization of $9.30 billion, a P/E ratio of 104.76 and a beta of 1.62. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. On average, sell-side analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several analyst reports. Barclays upped 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. Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They set a "peer perform" rating on the stock. Citigroup lifted their price objective on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Piper Sandler started coverage on shares of MasTec in a research note on Tuesday, April 8th. They set an "overweight" rating and a $134.00 target price on the stock. Finally, B. Riley reiterated a "buy" rating and set a $165.00 target price (up 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 two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $153.87.

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.