Vanguard Group Inc. Has $783.36 Million Stake in MasTec, Inc. (NYSE:MTZ)

Vanguard Group Inc. decreased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,754,086 shares of the construction company's stock after selling 253,637 shares during the period. Vanguard Group Inc. owned about 7.26% of MasTec worth $783,361,000 as of its most recent filing with the Securities and Exchange Commission.

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

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Insider Buying and Selling

In other 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 transaction of $331,312.71. Following the transaction, 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 is accessible through this link. 21.30% of the stock is owned by insiders.

Analysts Set New Price Targets

MTZ has been the topic of several research reports. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Barclays boosted their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Tuesday, March 25th. Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MasTec presently has an average rating of "Moderate Buy" and an average price target of $160.07.

MasTec Trading Down 8.8 %

Shares of NYSE:MTZ traded down $10.82 during midday trading on Thursday, reaching $111.95. The company's stock had a trading volume of 1,819,969 shares, compared to its average volume of 912,355. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. 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 firm has a 50 day moving average price of $129.42 and a two-hundred day moving average price of $133.49. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 99.95 and a beta of 1.74.

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