MasTec, Inc. (NYSE:MTZ) Shares Sold by Net Worth Advisory Group

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

Several other institutional investors have also modified their holdings of MTZ. Arrowstreet Capital Limited Partnership acquired a new position in shares of MasTec in the fourth quarter worth $59,910,000. First Trust Advisors LP grew its stake in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of MasTec in the fourth quarter worth $46,612,000. Finally, Freestone Grove Partners LP acquired a new position in shares of MasTec in the fourth quarter worth $31,730,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Jefferies Financial Group assumed coverage on shares of MasTec in a research note on Friday, May 16th. They set a “buy” rating and a $188.00 target price for the company. Guggenheim reiterated a “buy” rating and set a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, Stifel Nicolaus boosted their price target on shares of MasTec from $171.00 to $181.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $166.75.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director now directly owns 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, 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. Company insiders own 21.30% of the company’s stock.

MasTec Stock Down 0.8%

MTZ stock opened at $161.95 on Friday. The company’s 50 day simple moving average is $141.64 and its 200-day simple moving average is $137.12. The firm has a market capitalization of $12.78 billion, a PE ratio of 144.60 and a beta of 1.75. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

MasTec (NYSE:MTZ) last released its quarterly 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 business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) earnings per share. Equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.