MasTec, Inc. (NYSE:MTZ) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,766 shares of the construction company's stock after selling 7,623 shares during the period. CANADA LIFE ASSURANCE Co owned 0.05% of MasTec worth $5,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTZ. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec during the third quarter worth approximately $25,000. Ameliora Wealth Management Ltd. bought a new stake in MasTec during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after acquiring an additional 116 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after purchasing an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after purchasing an additional 190 shares during the period. Institutional investors own 78.10% of the company's stock.

MasTec Stock Performance

Shares of MTZ opened at $118.57 on Thursday. The company has a 50-day moving average of $120.81 and a two-hundred day moving average of $132.52. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 105.87 and a beta of 1.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a one year low of $83.17 and a one year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued its 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 business 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%. On average, equities research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company's 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 of the company's stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. B. Riley reaffirmed a "buy" rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. KeyCorp reduced their price target on shares of MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Truist Financial lowered their price objective on shares of MasTec from $197.00 to $154.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lowered their price target on MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, MasTec presently has an average rating of "Moderate Buy" and an average target price of $152.00.

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.

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