JPMorgan Chase & Co. Sells 176,379 Shares of MasTec, Inc. (NYSE:MTZ)

JPMorgan Chase & Co. lowered its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 28.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 433,255 shares of the construction company’s stock after selling 176,379 shares during the period. JPMorgan Chase & Co. owned 0.55% of MasTec worth $58,983,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec in the third quarter valued at $25,000. Smartleaf Asset Management LLC raised its position 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 valued at $36,000 after purchasing an additional 128 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays lifted their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Robert W. Baird decreased their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus decreased their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus target price of $160.07.

MasTec Stock Performance

Shares of MasTec stock opened at $105.87 on Friday. The company has a 50 day moving average of $128.35 and a 200-day moving average of $133.44. The company has a market cap of $8.39 billion, a PE ratio of 94.53 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.30% of the company’s stock.

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.