MasTec, Inc. (NYSE:MTZ) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its stake in MasTec, Inc. (NYSE:MTZGet Rating) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,496 shares of the construction company’s stock after selling 957 shares during the period. Shell Asset Management Co.’s holdings in MasTec were worth $566,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MTZ. UMB Bank N A MO acquired a new stake in shares of MasTec in the fourth quarter worth approximately $30,000. Covestor Ltd purchased a new position in MasTec in the fourth quarter valued at approximately $33,000. First Horizon Advisors Inc. raised its holdings in MasTec by 84.4% in the fourth quarter. First Horizon Advisors Inc. now owns 426 shares of the construction company’s stock valued at $39,000 after buying an additional 195 shares during the period. Valeo Financial Advisors LLC purchased a new position in MasTec in the first quarter valued at approximately $41,000. Finally, CWM LLC purchased a new position in MasTec in the fourth quarter valued at approximately $55,000. 68.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. B. Riley cut their price target on shares of MasTec from $97.00 to $86.00 and set a “maintains” rating on the stock in a report on Tuesday, July 26th. UBS Group cut their price target on shares of MasTec from $116.00 to $100.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Robert W. Baird dropped their price objective on shares of MasTec from $100.00 to $96.00 in a research note on Monday, May 9th. DA Davidson dropped their price objective on shares of MasTec from $120.00 to $105.00 in a research note on Monday, May 9th. Finally, TheStreet lowered shares of MasTec from a “b-” rating to a “c” rating in a research note on Monday, May 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.09.

MasTec Stock Up 1.3 %

Shares of NYSE:MTZ opened at $79.11 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $80.38. The firm has a market cap of $6.00 billion, a PE ratio of 25.60 and a beta of 1.28. MasTec, Inc. has a 12-month low of $62.64 and a 12-month high of $104.45.

MasTec (NYSE:MTZGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The construction company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.79 billion. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, equities research analysts anticipate that MasTec, Inc. will post 2.74 EPS for the current fiscal year.

MasTec Company Profile

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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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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