Campbell Newman Asset Management Inc. Decreases Stake in MasTec, Inc. (NYSE:MTZ)

Campbell Newman Asset Management Inc. lowered its stake in MasTec, Inc. (NYSE:MTZ) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,826 shares of the construction company’s stock after selling 131 shares during the period. Campbell Newman Asset Management Inc.’s holdings in MasTec were worth $3,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTZ. Hood River Capital Management LLC increased its stake in shares of MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock worth $208,444,000 after acquiring an additional 51,531 shares during the period. AQR Capital Management LLC increased its stake in shares of MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after acquiring an additional 91,564 shares during the period. Balyasny Asset Management L.P. grew its position in MasTec by 137.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after buying an additional 363,502 shares during the period. First Trust Advisors LP increased its holdings in MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after buying an additional 373,145 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after acquiring an additional 114,502 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director now owns 39,782 shares of the company’s stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Down 0.8%

MTZ stock opened at $161.95 on Friday. The firm has a market cap of $12.78 billion, a PE ratio of 144.60 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm’s 50 day moving average price is $141.64 and its 200-day moving average price is $137.12. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.13) EPS. On average, equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MTZ shares. KeyCorp raised their target price on MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Barclays raised their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Wolfe Research assumed coverage on MasTec in a report on Monday, March 31st. They issued a “peer perform” rating on the stock. Finally, B. Riley reiterated a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $166.75.

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.