MasTec, Inc. (NYSE:MTZ) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in MasTec, Inc. (NYSE:MTZ) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,935 shares of the construction company’s stock after selling 224 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MasTec were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. Banco Santander S.A. acquired a new position in shares of MasTec in the fourth quarter worth about $4,241,000. Lisanti Capital Growth LLC lifted its stake in shares of MasTec by 2.5% in the fourth quarter. Lisanti Capital Growth LLC now owns 44,155 shares of the construction company’s stock worth $6,011,000 after acquiring an additional 1,065 shares in the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of MasTec in the fourth quarter worth about $498,000. Raymond James Financial Inc. acquired a new position in shares of MasTec in the fourth quarter worth about $17,776,000. Finally, Arizona State Retirement System lifted its stake in shares of MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock worth $2,504,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Citigroup boosted their price objective on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lowered their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price for the company. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.07.

MasTec Trading Down 2.1 %

Shares of MTZ opened at $123.89 on Friday. The business’s 50-day moving average price is $135.56 and its 200 day moving average price is $132.67. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $9.82 billion, a P/E ratio of 110.61 and a beta of 1.74. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.