MasTec, Inc. (NYSE:MTZ) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its stake in MasTec, Inc. (NYSE:MTZ) by 28.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,688 shares of the construction company’s stock after selling 667 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MasTec were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MTZ. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec in the third quarter worth $25,000. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec in the fourth quarter worth $25,000. Smartleaf Asset Management LLC raised its holdings in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after acquiring an additional 190 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of MasTec in the fourth quarter worth $44,000. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Trading Up 0.6 %

Shares of MTZ opened at $126.75 on Friday. The stock’s 50-day moving average is $135.98 and its two-hundred day moving average is $132.40. The stock has a market cap of $10.05 billion, a PE ratio of 113.17 and a beta of 1.74. MasTec, Inc. has a 12 month low of $82.29 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 issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Equities analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup lifted their price objective on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. B. Riley reaffirmed a “buy” rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Wednesday. Finally, KeyCorp lifted their price objective on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

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.