MasTec, Inc. $MTZ Holdings Trimmed by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in MasTec, Inc. by 2.0%, now holding approximately 611,876 shares valued at $71.4 million.
• MasTec's stock price closed at $177.65, with a market cap of $14.02 billion, indicating strong trading activity and a 52-week price range of $96.01 to $194.00.
• Analysts have given MasTec a majority buy rating with a consensus target price of $195.12, following positive quarterly earnings reports that exceeded expectations.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 611,876 shares of the construction company's stock after selling 12,592 shares during the period. Charles Schwab Investment Management Inc. owned about 0.78% of MasTec worth $71,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Colonial Trust Co SC boosted its position in MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Rothschild Investment LLC raised its position in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after buying an additional 263 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in MasTec in the first quarter valued at $35,000. Harbor Investment Advisory LLC increased its stake in MasTec by 147.1% during the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of MasTec in the 4th quarter worth about $49,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

Shares of NYSE:MTZ traded down $2.59 on Tuesday, hitting $175.86. The company's stock had a trading volume of 71,775 shares, compared to its average volume of 1,039,672. MasTec, Inc. has a 12 month low of $96.01 and a 12 month high of $194.00. The stock's 50-day moving average is $173.95 and its two-hundred day moving average is $147.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 52.22 and a beta of 1.83.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the business posted $0.96 EPS. The business's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Roth Capital initiated coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Robert W. Baird upgraded shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Monday, August 4th. KeyCorp upped their price target on shares of MasTec from $196.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Guggenheim reissued a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $195.12.

Insider Activity

In related news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the sale, the chief operating officer directly owned 194,249 shares in the company, valued at $33,993,575. The trade was a 4.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. This represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.