Renasant Bank Reduces Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Renasant Bank reduced its position in MasTec, Inc. (NYSE:MTZ) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,120 shares of the construction company’s stock after selling 106 shares during the period. Renasant Bank’s holdings in MasTec were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after acquiring an additional 895,227 shares during the last quarter. State Street Corp increased its stake 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 worth $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after buying an additional 7,469 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. KeyCorp raised their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Robert W. Baird reduced their price objective 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, Guggenheim began coverage on shares of MasTec in a research note 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 given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $160.14.

MasTec Trading Down 1.2 %

Shares of MTZ stock opened at $116.50 on Friday. The business has a 50-day moving average price of $138.76 and a two-hundred day moving average price of $132.06. 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 $9.24 billion, a P/E ratio of 104.02 and a beta of 1.74.

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

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.