MasTec, Inc. (NYSE:MTZ) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,035 shares of the construction company's stock after selling 5,073 shares during the period. Legal & General Group Plc owned 0.12% of MasTec worth $13,346,000 at the end of the most recent reporting period.

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

MasTec Trading Down 1.2 %

Shares of MasTec stock traded down $1.44 during trading hours on Friday, reaching $115.97. The stock had a trading volume of 1,013,145 shares, compared to its average volume of 936,199. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 1 year low of $83.04 and a 1 year high of $166.95. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 103.55 and a beta of 1.62. The firm has a 50 day simple moving average of $122.63 and a two-hundred day simple moving average of $132.79.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citigroup lifted their target price on shares of MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Truist Financial reduced their price target on shares of MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wolfe Research assumed coverage on shares of MasTec in a research report on Monday, March 31st. They set a "peer perform" rating on the stock. Finally, Piper Sandler initiated coverage on shares of MasTec in a report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 target price for the company. Three investment 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 a consensus price target of $152.00.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.30% of the company's stock.

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.