MasTec, Inc. (NYSE:MTZ) Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in MasTec, Inc. (NYSE:MTZ) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,789 shares of the construction company’s stock after selling 1,227 shares during the period. Mutual of America Capital Management LLC’s holdings in MasTec were worth $3,722,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Hobbs Group Advisors LLC acquired a new position in MasTec in the 2nd quarter valued at approximately $27,000. Quarry LP acquired a new position in shares of MasTec in the fourth quarter worth $37,000. GAMMA Investing LLC raised its holdings in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in MasTec during the second quarter valued at $40,000. Finally, Bessemer Group Inc. grew its stake in MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Up 1.3 %

MTZ stock opened at $126.14 on Monday. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -901.00 and a beta of 1.70. The company has a 50-day moving average of $108.63 and a two-hundred day moving average of $102.58. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $127.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

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

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MTZ shares. Truist Financial reaffirmed a “hold” rating and set a $112.00 price target (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. B. Riley raised their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus boosted their target price on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. DA Davidson raised their price target on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Citigroup lifted their price objective on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $117.50.

MasTec Company 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.