First National Advisers LLC Has $3.74 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

First National Advisers LLC reduced its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,440 shares of the construction company's stock after selling 6,231 shares during the period. First National Advisers LLC's holdings in MasTec were worth $3,736,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Atria Investments Inc acquired a new position in MasTec in the third quarter worth approximately $302,000. Victory Capital Management Inc. increased its stake in shares of MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock worth $1,583,000 after purchasing an additional 101 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock worth $281,000 after purchasing an additional 82 shares during the last quarter. Chesapeake Capital Corp IL raised its holdings in shares of MasTec by 38.7% during the 3rd quarter. Chesapeake Capital Corp IL now owns 3,910 shares of the construction company's stock valued at $480,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in shares of MasTec in the 3rd quarter valued at $230,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on MTZ shares. Guggenheim initiated coverage on MasTec in a report on Wednesday, January 8th. They set a "buy" rating and a $195.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their price target on shares of MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, Citigroup boosted their price objective on shares of MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and a consensus target price of $160.07.

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MasTec Stock Performance

Shares of MTZ traded up $0.78 during trading hours on Thursday, reaching $126.75. 950,173 shares of the company traded hands, compared to its average volume of 851,820. 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 stock's fifty day moving average is $136.38 and its 200 day moving average is $132.44. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The stock has a market cap of $10.05 billion, a P/E ratio of 113.17 and a beta of 1.74.

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, beating the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. Equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

About MasTec

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.