MasTec, Inc. (NYSE:MTZ) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 55.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 570 shares of the construction company’s stock after selling 715 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in MasTec were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its position in MasTec by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 15,124 shares of the construction company’s stock worth $960,000 after acquiring an additional 132 shares during the last quarter. Covestor Ltd raised its position in shares of MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after buying an additional 145 shares during the last quarter. Sheets Smith Wealth Management raised its position in shares of MasTec by 0.9% in the third quarter. Sheets Smith Wealth Management now owns 20,160 shares of the construction company’s stock valued at $1,451,000 after buying an additional 185 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of MasTec by 7.9% in the first quarter. Belpointe Asset Management LLC now owns 2,541 shares of the construction company’s stock valued at $240,000 after buying an additional 185 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of MasTec by 12.7% in the second quarter. Captrust Financial Advisors now owns 1,796 shares of the construction company’s stock valued at $129,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTZ. KeyCorp boosted their target price on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Craig Hallum upgraded shares of MasTec from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $96.00 in a report on Monday, March 4th. Citigroup boosted their price objective on shares of MasTec from $74.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Truist Financial began coverage on shares of MasTec in a research note on Thursday, March 14th. They set a “hold” rating and a $96.00 price objective for the company. Finally, TD Cowen boosted their price objective on shares of MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.46.

MasTec Stock Up 0.7 %

Shares of NYSE:MTZ opened at $83.40 on Friday. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of -126.36 and a beta of 1.62. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $123.33. The company’s fifty day moving average is $84.19 and its two-hundred day moving average is $71.39. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. Equities analysts anticipate that MasTec, Inc. will post 2.33 EPS 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.