Lecap Asset Management Ltd. Decreases Stock Position in MasTec, Inc. (NYSE:MTZ)

Lecap Asset Management Ltd. trimmed its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 61.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,414 shares of the construction company's stock after selling 10,132 shares during the quarter. Lecap Asset Management Ltd.'s holdings in MasTec were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of MTZ. Rockefeller Capital Management L.P. lifted its holdings in shares of MasTec by 0.8% during the fourth 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 during the last quarter. Truist Financial Corp purchased a new position in MasTec during the fourth quarter valued at $239,000. Envestnet Asset Management Inc. boosted its holdings in MasTec by 37.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 34,593 shares of the construction company's stock worth $4,710,000 after acquiring an additional 9,434 shares in the last quarter. Stifel Financial Corp boosted its holdings in MasTec by 16.7% in the fourth quarter. Stifel Financial Corp now owns 11,788 shares of the construction company's stock worth $1,605,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of MasTec in the fourth quarter worth $5,171,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

NYSE MTZ traded up $1.73 on Friday, hitting $172.28. 1,409,871 shares of the company traded hands, compared to its average volume of 944,057. The business's 50 day moving average price is $151.61 and its 200-day moving average price is $138.88. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $172.84. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 63.34 and a beta of 1.75.

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

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group assumed coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $156.00 to $195.00 in a report on Friday, June 6th. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Wolfe Research assumed coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $166.75.

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.