MasTec, Inc. (NYSE:MTZ) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,035 shares of the construction company’s stock after selling 5,073 shares during the quarter. Legal & General Group Plc owned 0.12% of MasTec worth $13,346,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Ameliora Wealth Management Ltd. acquired a new stake in MasTec in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec during the third quarter valued at $25,000. Smartleaf Asset Management LLC increased its position in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after acquiring an additional 128 shares during the period. Finally, Global Retirement Partners LLC raised its stake in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $118.36 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The business’s 50 day moving average is $123.75 and its two-hundred day moving average is $132.95. The company has a market capitalization of $9.38 billion, a P/E ratio of 105.68 and a beta of 1.62.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTZ. B. Riley reiterated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Truist Financial cut their price target on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Citigroup lifted their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Stifel Nicolaus cut their price objective on shares of MasTec from $175.00 to $143.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.87.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company’s stock.

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.