Legato Capital Management LLC Trims Holdings in MasTec, Inc. (NYSE:MTZ)

Legato Capital Management LLC decreased its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 20.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,858 shares of the construction company's stock after selling 3,666 shares during the quarter. Legato Capital Management LLC's holdings in MasTec were worth $1,617,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MTZ. KBC Group NV increased its position in shares of MasTec by 10.6% during the 1st quarter. KBC Group NV now owns 2,773 shares of the construction company's stock valued at $324,000 after purchasing an additional 266 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of MasTec by 37.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock valued at $1,915,000 after purchasing an additional 4,469 shares during the last quarter. GAMMA Investing LLC increased its position in shares of MasTec by 43.6% during the 1st quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after purchasing an additional 278 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of MasTec by 33.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock valued at $263,000 after purchasing an additional 565 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of MasTec by 9.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company's stock valued at $5,253,000 after purchasing an additional 4,031 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction 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 owned 39,782 shares in the company, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction 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 owned 194,249 shares in the company, valued at $33,993,575. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTZ. Barclays reaffirmed an "overweight" rating and set a $200.00 price target (up previously from $145.00) on shares of MasTec in a research report on Monday, July 21st. Guggenheim reiterated a "buy" rating and set a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Tuesday. Piper Sandler boosted their price objective on MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $176.94.

MasTec Price Performance

Shares of NYSE MTZ traded up $4.70 during midday trading on Friday, reaching $186.45. 642,272 shares of the stock traded hands, compared to its average volume of 845,239. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. The stock has a market capitalization of $14.71 billion, a PE ratio of 68.55 and a beta of 1.75. MasTec, Inc. has a one year low of $89.96 and a one year high of $188.74. The company's 50 day moving average is $165.92 and its 200 day moving average is $143.76.

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