Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in MasTec, Inc. (NYSE:MTZ) by 58.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 138,144 shares of the construction company’s stock after selling 194,383 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.18% of MasTec worth $10,460,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Covestor Ltd raised its holdings in shares of MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after purchasing an additional 145 shares during the last quarter. CWM LLC grew its holdings in shares of MasTec by 152.4% in the third quarter. CWM LLC now owns 525 shares of the construction company’s stock valued at $38,000 after acquiring an additional 317 shares in the last quarter. Ronald Blue Trust Inc. increased its position in shares of MasTec by 75.3% during the third quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock valued at $39,000 after acquiring an additional 232 shares during the last quarter. Headlands Technologies LLC bought a new stake in MasTec during the third quarter worth $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in MasTec in the first quarter worth $52,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Price Performance

Shares of MasTec stock opened at $84.45 on Friday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -127.95 and a beta of 1.62. The company has a fifty day moving average of $84.46 and a 200-day moving average of $71.50. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $123.33. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Equities research analysts expect that MasTec, Inc. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MTZ. The Goldman Sachs Group boosted their target price on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Citigroup increased their target price on shares of MasTec from $74.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Robert W. Baird boosted their price objective on MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Barclays lifted their target price on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Truist Financial initiated coverage on shares of MasTec in a research report on Thursday, March 14th. They issued a “hold” rating and a $96.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.46.

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.