MasTec, Inc. (NYSE:MTZ) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its stake in MasTec, Inc. (NYSE:MTZ) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,292 shares of the construction company’s stock after selling 2,049 shares during the period. Moran Wealth Management LLC’s holdings in MasTec were worth $11,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after purchasing an additional 895,227 shares during the period. State Street Corp lifted its holdings in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after buying an additional 24,522 shares during the period. Geode Capital Management LLC boosted its stake in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after buying an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after acquiring an additional 7,469 shares during the period. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Down 3.0 %

Shares of MTZ stock opened at $115.33 on Monday. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $9.14 billion, a PE ratio of 102.97 and a beta of 1.74. The stock has a 50 day moving average of $140.09 and a 200-day moving average of $132.15.

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

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. KeyCorp increased their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.14.

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.