Lecap Asset Management Ltd. Sells 10,132 Shares of MasTec, Inc. (NYSE:MTZ)

Lecap Asset Management Ltd. trimmed its position in MasTec, Inc. (NYSE:MTZ) by 61.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,414 shares of the construction company’s stock after selling 10,132 shares during the period. Lecap Asset Management Ltd.’s holdings in MasTec were worth $749,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MTZ. EverSource Wealth Advisors LLC raised its position in shares of 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 buying an additional 116 shares in the last quarter. Colonial Trust Co SC raised its position in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Rothschild Investment LLC raised its position in shares of MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock valued at $32,000 after buying an additional 263 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after buying an additional 128 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its position in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now owns 39,782 shares of the company’s stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 21.30% of the stock is owned by corporate insiders.

MasTec Price Performance

MTZ stock opened at $168.55 on Thursday. The firm’s 50-day moving average price is $149.39 and its two-hundred day moving average price is $138.36. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $171.87. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 61.97 and a beta of 1.75. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ) last announced its quarterly 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. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company earned ($0.13) earnings per share. MasTec’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

MTZ has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Wall Street Zen upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 9th. The Goldman Sachs Group upgraded shares of MasTec from a “neutral” rating to a “buy” rating and raised their price objective for the company from $156.00 to $195.00 in a research report on Friday, June 6th. Jefferies Financial Group assumed coverage on shares of MasTec in a research report on Friday, May 16th. They set a “buy” rating and a $188.00 price objective on the stock. Finally, Guggenheim reissued a “buy” rating and issued a $195.00 price target on shares of MasTec in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $166.75.

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.