Pinebridge Investments L.P. Has $13.04 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Pinebridge Investments L.P. lessened its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 35.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,792 shares of the construction company's stock after selling 52,508 shares during the quarter. Pinebridge Investments L.P. owned about 0.12% of MasTec worth $13,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MTZ. Barclays PLC increased its holdings in shares of MasTec by 642.7% in the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after purchasing an additional 209,472 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of MasTec in the 3rd quarter valued at $254,000. Sanctuary Advisors LLC acquired a new stake in shares of MasTec in the 3rd quarter valued at $500,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec during the third quarter worth $25,000. Finally, Blankinship & Foster LLC acquired a new position in shares of MasTec during the third quarter valued at $246,000. 78.10% of the stock is owned by institutional investors.

MasTec Stock Up 1.8 %

NYSE MTZ traded up $2.26 during trading hours on Friday, reaching $125.09. 504,775 shares of the company's stock were exchanged, compared to its average volume of 939,268. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 111.69 and a beta of 1.62. The company's 50-day moving average is $120.35 and its two-hundred day moving average is $132.48. MasTec, Inc. has a one year low of $86.12 and a one year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on 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 directly owns 23,000 shares in the company, valued at $3,027,490. This trade 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 is available at the SEC website. Corporate insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus dropped their price objective on MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wolfe Research began coverage on shares of MasTec in a research note on Monday, March 31st. They set a "peer perform" rating for the company. Barclays increased their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Citigroup lowered their target price on shares of MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a report on Friday. Finally, Guggenheim reissued a "buy" rating and issued a $195.00 price target on shares of MasTec in a research note on Tuesday, March 25th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $151.00.

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.