MasTec, Inc. (NYSE:MTZ) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 18.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,230 shares of the construction company's stock after selling 22,444 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of MasTec worth $13,645,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Bank of New York Mellon Corp boosted its position in MasTec by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after buying an additional 114,502 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MasTec during the fourth quarter valued at about $59,910,000. Prudential Financial Inc. increased its position in shares of MasTec by 52.4% during the fourth quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock worth $55,162,000 after acquiring an additional 139,235 shares during the last quarter. Finally, Country Trust Bank boosted its holdings in MasTec by 10.9% in the fourth quarter. Country Trust Bank now owns 287,961 shares of the construction company's stock valued at $39,203,000 after purchasing an additional 28,350 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 21.30% of the stock is currently owned by insiders.

MasTec Stock Performance

MTZ stock traded down $1.44 during trading on Friday, reaching $115.97. 1,013,145 shares of the company's stock were exchanged, compared to its average volume of 937,243. The firm has a market cap of $9.17 billion, a PE ratio of 103.55 and a beta of 1.62. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 1-year low of $83.04 and a 1-year high of $166.95. The company's fifty day moving average price is $122.14 and its 200-day moving average price is $132.80.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Barclays lifted their price target 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. Wolfe Research began coverage on shares of MasTec in a research note on Monday, March 31st. They set a "peer perform" rating on the stock. KeyCorp dropped their target price on shares of MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Guggenheim reaffirmed a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Tuesday, March 25th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $152.00.

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.