Janney Montgomery Scott LLC Sells 3,481 Shares of MasTec, Inc. (NYSE:MTZ)

Janney Montgomery Scott LLC reduced its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 44.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,343 shares of the construction company's stock after selling 3,481 shares during the period. Janney Montgomery Scott LLC's holdings in MasTec were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in shares of MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock valued at $1,883,000 after purchasing an additional 105 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of MasTec in the 4th quarter valued at approximately $239,000. Envestnet Asset Management Inc. raised its holdings in MasTec by 37.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 34,593 shares of the construction company's stock valued at $4,710,000 after buying an additional 9,434 shares during the last quarter. Stifel Financial Corp raised its holdings in MasTec by 16.7% in the 4th quarter. Stifel Financial Corp now owns 11,788 shares of the construction company's stock valued at $1,605,000 after buying an additional 1,683 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in MasTec in the 4th quarter valued at approximately $5,171,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTZ shares. Wall Street Zen lowered shares of MasTec from a "strong-buy" rating to a "buy" rating in a report on Saturday. Truist Financial raised their price objective on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. B. Riley restated a "buy" rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, Jefferies Financial Group initiated coverage on shares of MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $169.29.

MasTec Stock Up 1.5%

MTZ traded up $2.53 during mid-day trading on Friday, reaching $171.89. 862,224 shares of the stock were exchanged, compared to its average volume of 948,080. The company has a 50 day moving average price of $156.81 and a two-hundred day moving average price of $140.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. The stock has a market capitalization of $13.56 billion, a PE ratio of 63.19 and a beta of 1.75. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $173.24.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the firm earned ($0.13) EPS. The firm's quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

MasTec 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.