Motco Trims Stock Holdings in MasTec, Inc. $MTZ

Motco reduced its stake in MasTec, Inc. (NYSE:MTZ) by 56.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 845 shares of the construction company’s stock after selling 1,080 shares during the period. Motco’s holdings in MasTec were worth $160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTZ. Ameritas Advisory Services LLC purchased a new stake in MasTec during the second quarter worth about $35,000. Farther Finance Advisors LLC grew its position in shares of MasTec by 228.6% during the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock worth $47,000 after buying an additional 192 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of MasTec during the second quarter worth about $49,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of MasTec during the first quarter worth about $35,000. Finally, Parallel Advisors LLC grew its position in shares of MasTec by 37.1% during the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after buying an additional 82 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director C Robert Campbell sold 2,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the completion of the sale, the director directly owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares of the company’s stock, valued at $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 25,000 shares of company stock valued at $4,803,250. 21.30% of the stock is currently owned by company insiders.

MasTec Price Performance

MTZ stock opened at $221.69 on Thursday. The company has a market capitalization of $17.49 billion, a P/E ratio of 65.59 and a beta of 1.82. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $222.94. The business has a 50 day simple moving average of $198.10 and a 200-day simple moving average of $173.45. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.08. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. As a group, equities analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. TD Cowen boosted their price objective on MasTec from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their price objective on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Barclays upped their price target on MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $221.89.

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.