Invesco Ltd. Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Invesco Ltd. decreased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,006,285 shares of the construction company's stock after selling 54,576 shares during the period. Invesco Ltd. owned 2.53% of MasTec worth $273,136,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in MasTec during the 4th quarter valued at approximately $59,910,000. Barclays PLC grew its holdings in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after buying an additional 209,472 shares in the last quarter. Prudential Financial Inc. raised its position in shares of MasTec by 52.4% during the fourth quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock valued at $55,162,000 after buying an additional 139,235 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MasTec in the fourth quarter worth $17,776,000. Finally, Bank of New York Mellon Corp boosted its position in shares of MasTec by 25.9% during the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock worth $75,787,000 after acquiring an additional 114,502 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Wall Street Analyst Weigh In

MTZ has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of MasTec in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price target on the stock. B. Riley reaffirmed a "buy" rating and set a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Barclays boosted their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Guggenheim reiterated a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Tuesday, March 25th. Finally, Stifel Nicolaus decreased their target price on shares of 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and an average target price of $153.87.

Remove Ads

MasTec Trading Up 0.2 %

MasTec stock traded up $0.21 during trading hours on Tuesday, hitting $118.41. The company had a trading volume of 341,798 shares, compared to its average volume of 932,277. The firm has a market cap of $9.39 billion, a P/E ratio of 105.87 and a beta of 1.62. The company has a 50-day moving average price of $124.28 and a two-hundred day moving average price of $133.05. 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 quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for 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, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. 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 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.