Pitcairn Co. Has $213,000 Stake in MasTec, Inc. (NYSE:MTZ)

Pitcairn Co. lowered its stake in MasTec, Inc. (NYSE:MTZ) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,566 shares of the construction company’s stock after selling 95 shares during the period. Pitcairn Co.’s holdings in MasTec were worth $213,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. bought a new stake in MasTec during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its stake in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares during the period. Smartleaf Asset Management LLC increased its position in MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after buying an additional 128 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after buying an additional 190 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is currently owned by company insiders.

MasTec Price Performance

NYSE:MTZ opened at $105.87 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $8.39 billion, a PE ratio of 94.53 and a beta of 1.74. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The company’s 50-day moving average price is $128.35 and its two-hundred day moving average price is $133.67.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTZ shares. Truist Financial raised their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup upped their price target on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. KeyCorp lifted their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Wolfe Research started coverage on MasTec in a research report on Monday, March 31st. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

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.