MasTec, Inc. (NYSE:MTZ) Shares Sold by LGT Group Foundation

LGT Group Foundation reduced its position in MasTec, Inc. (NYSE:MTZ) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,000 shares of the construction company’s stock after selling 270 shares during the quarter. LGT Group Foundation’s holdings in MasTec were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc raised its stake in MasTec by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in MasTec by 2.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after buying an additional 94 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after acquiring an additional 100 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after acquiring an additional 101 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MTZ shares. KeyCorp boosted their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Robert W. Baird reduced their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday. Citigroup increased their target price on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, B. Riley reaffirmed a “buy” rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average price target of $160.14.

MasTec Price Performance

MasTec stock opened at $124.05 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50 day simple moving average of $141.39 and a 200-day simple moving average of $131.88. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The stock has a market capitalization of $9.83 billion, a PE ratio of 110.76 and a beta of 1.73.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.