Edmond DE Rothschild Holding S.A. Cuts Stock Position in MasTec, Inc. (NYSE:MTZ)

Edmond DE Rothschild Holding S.A. cut its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 64.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the construction company's stock after selling 125,000 shares during the quarter. Edmond DE Rothschild Holding S.A. owned 0.09% of MasTec worth $9,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after acquiring an additional 24,522 shares during the period. Geode Capital Management LLC boosted its stake in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of MasTec by 57.7% in 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 purchasing an additional 279,778 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 buying an additional 114,502 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in MasTec during the 4th quarter worth approximately $59,910,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of MasTec from $185.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Citigroup boosted their target price on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Robert W. Baird decreased their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Barclays upped their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MasTec presently has an average rating of "Moderate Buy" and an average price target of $160.07.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.30% of the stock is owned by insiders.

MasTec Stock Performance

NYSE MTZ traded down $6.13 during trading hours on Friday, hitting $105.87. The company had a trading volume of 2,165,647 shares, compared to its average volume of 920,211. The business has a 50 day moving average of $128.35 and a 200-day moving average of $133.56. The company has a market cap of $8.39 billion, a PE ratio of 94.53 and a beta of 1.74. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

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, beating analysts' consensus estimates of $1.28 by $0.08. The firm 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%. As a group, equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

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.