Vanguard Group Inc. Sells 253,637 Shares of MasTec, Inc. (NYSE:MTZ)

Vanguard Group Inc. trimmed its position in MasTec, Inc. (NYSE:MTZ) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 5,754,086 shares of the construction company’s stock after selling 253,637 shares during the period. Vanguard Group Inc. owned about 0.07% of MasTec worth $783,361,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC boosted its holdings in shares of MasTec by 285.4% in the third quarter. Cerity Partners LLC now owns 23,151 shares of the construction company’s stock worth $2,850,000 after buying an additional 17,144 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of MasTec during the 3rd quarter worth $405,000. FMR LLC grew its position in shares of MasTec by 18.1% during the 3rd quarter. FMR LLC now owns 3,382 shares of the construction company’s stock valued at $416,000 after acquiring an additional 518 shares during the period. BNP Paribas Financial Markets increased its stake in shares of MasTec by 668.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,792 shares of the construction company’s stock worth $3,544,000 after purchasing an additional 25,044 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MasTec by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 342,318 shares of the construction company’s stock worth $42,139,000 after purchasing an additional 1,421 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

Insider Activity at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction 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 sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is currently owned by insiders.

MasTec Stock Down 3.0 %

Shares of MTZ stock opened at $115.22 on Friday. The stock has a market cap of $9.14 billion, a P/E ratio of 102.87 and a beta of 1.74. The company’s fifty day simple moving average is $132.73 and its two-hundred day simple moving average is $133.45. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. Analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTZ shares. B. Riley reissued a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Guggenheim restated a “buy” rating and set a $195.00 target price on shares of MasTec in a research note on Tuesday, March 25th. Citigroup upped their price target on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Barclays raised their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Two equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.07.

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.