Temasek Holdings Private Ltd Sells 15,867 Shares of MasTec, Inc. (NYSE:MTZ)

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

Other hedge funds also recently modified their holdings of the company. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after acquiring an additional 116 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 1.4%

Shares of NYSE:MTZ opened at $157.80 on Friday. MasTec, Inc. has a 52 week low of $89.96 and a 52 week high of $166.95. 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 company’s fifty day moving average is $126.20 and its 200-day moving average is $134.51. The company has a market capitalization of $12.45 billion, a PE ratio of 140.89 and a beta of 1.71.

MasTec (NYSE:MTZ) last issued 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. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company earned ($0.13) EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated 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 $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MTZ shares. Truist Financial raised their target price on shares of MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Guggenheim reaffirmed a “buy” rating and issued a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. Stifel Nicolaus increased their target price on MasTec from $143.00 to $171.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Citigroup raised their target price on MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, B. Riley reiterated a “buy” rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.06.

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.