Country Trust Bank Sells 53,454 Shares of MasTec, Inc. (NYSE:MTZ)

Country Trust Bank trimmed its position in shares of MasTec, Inc. (NYSE:MTZ) by 17.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,611 shares of the construction company’s stock after selling 53,454 shares during the quarter. Country Trust Bank owned approximately 0.33% of MasTec worth $31,958,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of MasTec during the second quarter worth $79,494,000. Point72 Asset Management L.P. increased its holdings in MasTec by 96.4% in 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 purchasing an additional 502,039 shares during the period. Hood River Capital Management LLC increased its holdings in MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in MasTec by 42.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after buying an additional 312,991 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Trading Down 0.9 %

NYSE MTZ opened at $128.43 on Wednesday. MasTec, Inc. has a 52 week low of $44.65 and a 52 week high of $130.22. The business has a 50 day moving average price of $113.10 and a 200-day moving average price of $105.71. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The company has a market cap of $10.20 billion, a price-to-earnings ratio of -917.36 and a beta of 1.70.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $0.81 EPS. MasTec’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial reissued a “hold” rating and issued a $112.00 price target (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a report on Monday. They set an “overweight” rating and a $153.00 price target for the company. B. Riley upped their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus lifted their target price on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup boosted their target price on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.15.

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.