MasTec, Inc. (NYSE:MTZ) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its stake in MasTec, Inc. (NYSE:MTZ) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 64,500 shares of the construction company’s stock after selling 9,500 shares during the period. Daiwa Securities Group Inc.’s holdings in MasTec were worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MTZ. Vanguard Group Inc. boosted its position in shares of MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after purchasing an additional 33,592 shares during the period. BlackRock Inc. boosted its holdings in shares of MasTec by 2.4% in the first quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock valued at $489,168,000 after acquiring an additional 134,201 shares during the period. Nordea Investment Management AB boosted its holdings in shares of MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after acquiring an additional 1,027,085 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of MasTec by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after acquiring an additional 17,369 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of MasTec by 1.1% in the 2nd quarter. Macquarie Group Ltd. now owns 2,372,108 shares of the construction company’s stock valued at $169,985,000 after acquiring an additional 25,878 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MTZ. TD Cowen raised their price objective on shares of MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Truist Financial assumed coverage on MasTec in a report on Thursday, March 14th. They set a “hold” rating and a $96.00 price target on the stock. KeyCorp boosted their price target on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. The Goldman Sachs Group increased their price objective on MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Citigroup boosted their target price on MasTec from $74.00 to $99.00 and gave the company a “buy” rating in a report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.46.

MasTec Stock Performance

NYSE MTZ opened at $84.45 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The business has a fifty day moving average of $84.46 and a 200-day moving average of $71.50. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of -127.95 and a beta of 1.62.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. As a group, analysts predict that MasTec, Inc. will post 2.33 earnings per share for the current fiscal 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.