MasTec, Inc. (NYSE:MTZ) Stock Position Decreased by Oak Thistle LLC

Oak Thistle LLC trimmed its stake in MasTec, Inc. (NYSE:MTZ) by 58.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,882 shares of the construction company’s stock after selling 6,779 shares during the quarter. Oak Thistle LLC’s holdings in MasTec were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nordea Investment Management AB boosted its stake in MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after purchasing an additional 1,027,085 shares during the period. Norges Bank acquired a new stake in shares of MasTec in the fourth quarter worth $46,970,000. Point72 Asset Management L.P. grew its holdings in shares of MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after buying an additional 312,991 shares during the period. Finally, Schroder Investment Management Group lifted its stake in MasTec by 95.0% in the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock worth $46,556,000 after acquiring an additional 299,567 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Stock Down 3.7 %

MTZ opened at $103.00 on Tuesday. The firm has a market cap of $8.18 billion, a P/E ratio of -735.71 and a beta of 1.65. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The business has a 50 day moving average price of $105.24 and a 200 day moving average price of $87.66. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. Research analysts forecast that MasTec, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling at MasTec

In other news, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Javier Alberto Palomarez sold 2,850 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the sale, the director now directly owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 50,725 shares in the company, valued at approximately $5,579,750. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MTZ. DA Davidson upped their target price on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. B. Riley reiterated a “buy” rating and issued a $132.00 target price on shares of MasTec in a research report on Thursday, June 27th. Truist Financial restated a “hold” rating and set a $109.00 price target (up from $96.00) on shares of MasTec in a report on Monday, May 6th. Craig Hallum increased their price objective on MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Stifel Nicolaus boosted their target price on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.23.

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.