Raymond James & Associates Reduces Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Raymond James & Associates lessened its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,473 shares of the construction company's stock after selling 6,757 shares during the period. Raymond James & Associates owned approximately 0.05% of MasTec worth $5,105,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in MasTec during the 1st quarter worth approximately $785,000. Swedbank AB purchased a new stake in MasTec during the 1st quarter worth approximately $5,287,000. Interval Partners LP purchased a new stake in MasTec during the 1st quarter worth approximately $4,230,000. Boston Partners purchased a new stake in MasTec during the 1st quarter worth approximately $748,000. Finally, Texas Permanent School Fund Corp grew its position in MasTec by 8.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company's stock worth $6,154,000 after purchasing an additional 4,716 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on MTZ shares. B. Riley boosted their target price on shares of MasTec from $132.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a "buy" rating in a report on Monday, August 5th. UBS Group upped their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their price objective on shares of MasTec from $112.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, MasTec presently has an average rating of "Moderate Buy" and a consensus target price of $134.00.

MasTec Stock Performance

Shares of MTZ traded up $7.11 during trading hours on Friday, hitting $130.00. The stock had a trading volume of 2,451,701 shares, compared to its average volume of 851,823. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The firm has a 50-day moving average price of $119.20 and a 200 day moving average price of $109.67. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 1,444.44 and a beta of 1.70. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $138.87.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.09. The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, research analysts anticipate that MasTec, Inc. will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares of the company's stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,800 shares of company stock worth $2,978,212. Company 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.