Penn Capital Management Company LLC Decreases Stock Position in MasTec, Inc. (NYSE:MTZ)

Penn Capital Management Company LLC decreased its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,997 shares of the construction company's stock after selling 148,952 shares during the quarter. Penn Capital Management Company LLC's holdings in MasTec were worth $816,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of MasTec in the third quarter valued at approximately $25,000. Ameliora Wealth Management Ltd. bought a new stake in shares of MasTec during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 116 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after buying an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in 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 buying an additional 190 shares during the period. 78.10% of the stock is owned by institutional investors.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company'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 sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Guggenheim restated a "buy" rating and issued a $195.00 target price on shares of MasTec in a research note on Tuesday, March 25th. KeyCorp lowered their price objective on MasTec from $168.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial cut their target price 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. Finally, Piper Sandler started coverage on shares of MasTec in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price target on the stock. Three equities 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's stock. According to MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and an average price target of $151.00.

MasTec Price Performance

Shares of NYSE MTZ traded up $1.11 during midday trading on Monday, hitting $126.22. 541,626 shares of the company's stock were exchanged, compared to its average volume of 937,680. The business's fifty day moving average price is $120.17 and its two-hundred day moving average price is $132.51. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 112.70 and a beta of 1.62. 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 12-month low of $86.12 and a 12-month high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.32 billion. As a group, research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

About MasTec

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.