MasTec, Inc. (NYSE:MTZ) Stake Lessened by Private Advisor Group LLC

Private Advisor Group LLC trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,762 shares of the construction company’s stock after selling 194 shares during the period. Private Advisor Group LLC’s holdings in MasTec were worth $512,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MTZ. Allworth Financial LP boosted its stake in MasTec by 15.1% in the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after purchasing an additional 78 shares during the period. CIBC Asset Management Inc raised its holdings in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after purchasing an additional 82 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of MasTec by 2.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after purchasing an additional 94 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 100 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after buying an additional 101 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Performance

Shares of MTZ stock opened at $127.56 on Tuesday. The stock has a market cap of $10.11 billion, a P/E ratio of 113.89 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a fifty day moving average price of $141.60 and a two-hundred day moving average price of $131.76. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95.

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

Wall Street Analysts Forecast Growth

MTZ has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. TD Cowen lifted their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Guggenheim initiated coverage on shares of MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective on the stock. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird reduced their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.07.

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.