Frontier Capital Management Co. LLC Sells 23,606 Shares of MasTec, Inc. (NYSE:MTZ)

Frontier Capital Management Co. LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 13.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 154,369 shares of the construction company’s stock after selling 23,606 shares during the period. Frontier Capital Management Co. LLC’s holdings in MasTec were worth $21,016,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of MasTec in the 4th quarter worth about $59,910,000. First Trust Advisors LP raised its holdings in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after purchasing an additional 373,145 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after acquiring an additional 363,502 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of MasTec in the fourth quarter worth approximately $31,730,000. Finally, Barclays PLC increased its holdings in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after buying an additional 209,472 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

NYSE MTZ opened at $147.59 on Friday. 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, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 131.78 and a beta of 1.71. The company has a 50-day simple moving average of $121.80 and a two-hundred day simple moving average of $133.10.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned ($0.13) earnings per share. On average, equities analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on MTZ shares. Piper Sandler raised their price objective on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Wolfe Research assumed coverage on shares of MasTec in a research note on Monday, March 31st. They set a “peer perform” rating for the company. Robert W. Baird cut their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus raised their price target on MasTec from $143.00 to $171.00 and gave the stock a “buy” rating in a report on Monday. Finally, Truist Financial lifted their price target on MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research report on Monday. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.33.

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.