Alliancebernstein L.P. Sells 264,118 Shares of MasTec, Inc. (NYSE:MTZ)

Alliancebernstein L.P. lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,144,726 shares of the construction company’s stock after selling 264,118 shares during the period. Alliancebernstein L.P. owned approximately 1.44% of MasTec worth $155,843,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MTZ. O Shaughnessy Asset Management LLC raised its position in shares of MasTec by 13.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,020 shares of the construction company’s stock valued at $1,092,000 after buying an additional 963 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in MasTec during the fourth quarter worth approximately $59,910,000. Pictet Asset Management Holding SA raised its position in MasTec by 11.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,950 shares of the construction company’s stock valued at $1,355,000 after purchasing an additional 1,046 shares during the period. Norges Bank bought a new stake in shares of MasTec in the 4th quarter valued at approximately $7,663,000. Finally, Blair William & Co. IL purchased a new position in shares of MasTec in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTZ. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird reduced their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. B. Riley reaffirmed a “buy” rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Stifel Nicolaus cut their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Wolfe Research assumed coverage on shares of MasTec in a research note on Monday. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Trading Up 1.4 %

Shares of NYSE MTZ opened at $118.37 on Wednesday. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. The firm has a market cap of $9.39 billion, a PE ratio of 105.69 and a beta of 1.74. The business has a fifty day simple moving average of $131.11 and a two-hundred day simple moving average of $133.72. 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 (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 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 business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. Analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at $3,027,490. This represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 21.30% of the company’s stock.

MasTec Company 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.