Net Worth Advisory Group Decreases Position in MasTec, Inc. (NYSE:MTZ)

Net Worth Advisory Group cut its stake in MasTec, Inc. (NYSE:MTZ) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,716 shares of the construction company’s stock after selling 117 shares during the quarter. Net Worth Advisory Group’s holdings in MasTec were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in MasTec by 15.1% in the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock valued at $81,000 after buying an additional 78 shares in the last quarter. Arizona State Retirement System lifted its stake in MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after buying an additional 89 shares in the last quarter. Fielder Capital Group LLC lifted its stake in MasTec by 6.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock valued at $247,000 after buying an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock valued at $1,883,000 after buying an additional 105 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in MasTec by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company’s stock valued at $326,000 after buying an additional 116 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTZ. The Goldman Sachs Group raised shares of MasTec from a “neutral” rating to a “buy” rating and raised their price target for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Wall Street Zen raised shares of MasTec from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 9th. Guggenheim reissued a “buy” rating and issued a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. B. Riley reissued a “buy” rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Finally, Piper Sandler raised their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $166.75.

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

Insider Buying and Selling at MasTec

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 business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

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.