Sei Investments Co. Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

Sei Investments Co. lessened its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,068 shares of the construction company's stock after selling 8,342 shares during the quarter. Sei Investments Co. owned about 0.10% of MasTec worth $11,309,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock worth $81,000 after acquiring an additional 78 shares in the last quarter. Arizona State Retirement System grew its position in MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after purchasing an additional 89 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company's stock worth $423,000 after acquiring an additional 94 shares during the last quarter. Fielder Capital Group LLC lifted its position in MasTec by 6.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock valued at $247,000 after acquiring an additional 105 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock valued at $67,000 after purchasing an additional 113 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction 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 sale, the director now directly 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MTZ shares. Wolfe Research initiated coverage on MasTec in a report on Monday. They issued a "peer perform" rating on the stock. Stifel Nicolaus cut their price objective on shares of MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. B. Riley reiterated a "buy" rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Robert W. Baird cut their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.07.

MasTec Stock Performance

NYSE:MTZ traded down $10.82 during trading hours on Thursday, reaching $111.95. The stock had a trading volume of 1,819,969 shares, compared to its average volume of 912,355. The stock has a market cap of $8.88 billion, a P/E ratio of 99.95 and a beta of 1.74. The stock has a 50 day simple moving average of $129.42 and a 200 day simple moving average of $133.49. 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, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95.

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 for the quarter, topping 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 company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.