JPMorgan Chase & Co. trimmed its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 433,255 shares of the construction company's stock after selling 176,379 shares during the period. JPMorgan Chase & Co. owned about 0.55% of MasTec worth $58,983,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Murphy & Mullick Capital Management Corp acquired a new stake in MasTec in the 4th quarter valued at approximately $152,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of MasTec during the 4th quarter worth approximately $206,000. EntryPoint Capital LLC raised its holdings in shares of MasTec by 26.9% in the fourth quarter. EntryPoint Capital LLC now owns 2,314 shares of the construction company's stock valued at $315,000 after purchasing an additional 491 shares during the last quarter. Prudential Financial Inc. lifted its position 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 worth $55,162,000 after purchasing an additional 139,235 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in MasTec during the fourth quarter worth $1,941,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.
MasTec Stock Performance
Shares of NYSE:MTZ traded up $15.08 on Wednesday, reaching $121.90. 1,571,331 shares of the company's stock were exchanged, compared to its average volume of 931,921. The company has a fifty day moving average of $125.67 and a 200-day moving average of $133.12. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. 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 $9.67 billion, a price-to-earnings ratio of 108.84 and a beta of 1.62.
MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating 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 firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, research analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.
Insider Activity at MasTec
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 shares were 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 in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 21.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on MTZ shares. Barclays lifted their price target on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Stifel Nicolaus dropped their target price on MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a report on Wednesday. Guggenheim restated a "buy" rating and issued a $195.00 price target on shares of MasTec in a research note on Tuesday, March 25th. Wolfe Research started coverage on MasTec in a research note on Monday, March 31st. They set a "peer perform" rating on the stock. Finally, Citigroup raised their target price on shares of MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.87.
Get Our Latest Report on MTZ
MasTec Company Profile
(
Free Report)
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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