MasTec, Inc. (NYSE:MTZ) Shares Sold by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd lessened its stake in MasTec, Inc. (NYSE:MTZ) by 60.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,289 shares of the construction company’s stock after selling 15,867 shares during the quarter. Temasek Holdings Private Ltd’s holdings in MasTec were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MTZ. Hood River Capital Management LLC boosted its stake in shares of MasTec by 3.5% during the 4th 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 in the last quarter. AQR Capital Management LLC boosted its position in MasTec by 13.3% during the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after purchasing an additional 91,564 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in MasTec by 137.6% in 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 purchasing an additional 363,502 shares during the period. First Trust Advisors LP grew 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 purchasing an additional 373,145 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of MasTec by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after buying an additional 114,502 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at $3,027,490. This represents a 9.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 39,782 shares of the company’s stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MTZ. Robert W. Baird decreased 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. Truist Financial raised their price target on shares of MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Citigroup upped their price objective on shares of MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler boosted their target price on MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $162.06.

MasTec Stock Up 1.4%

NYSE MTZ opened at $157.80 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The business has a 50 day moving average price of $126.20 and a two-hundred day moving average price of $134.51. The stock has a market cap of $12.45 billion, a PE ratio of 140.89 and a beta of 1.71.

MasTec (NYSE:MTZ) last released its 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 company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) EPS. As a group, sell-side analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.