Los Angeles Capital Management LLC Reduces Holdings in MasTec, Inc. (NYSE:MTZ)

Los Angeles Capital Management LLC cut its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 64.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,307 shares of the construction company's stock after selling 74,387 shares during the period. Los Angeles Capital Management LLC owned 0.05% of MasTec worth $4,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC increased its position in shares of MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Rothschild Investment LLC increased 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 valued at $32,000 after purchasing an additional 263 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of MasTec in the 1st quarter valued at approximately $35,000. Harbor Investment Advisory LLC increased its position in shares of MasTec by 147.1% in the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of MasTec in the 4th quarter valued at $49,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

NYSE:MTZ traded up $2.69 during mid-day trading on Friday, reaching $184.44. The stock had a trading volume of 133,574 shares, compared to its average volume of 1,030,209. 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 firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 67.76 and a beta of 1.75. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $188.74. The business has a 50 day simple moving average of $165.34 and a 200 day simple moving average of $143.48.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of MasTec from a "neutral" rating to a "buy" rating and upped their target price for the company from $156.00 to $195.00 in a report on Friday, June 6th. KeyCorp restated an "overweight" rating and issued a $196.00 target price (up previously from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Truist Financial upped their target price on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. Barclays restated an "overweight" rating and issued a $200.00 target price (up previously from $145.00) on shares of MasTec in a report on Monday. Finally, Roth Capital initiated coverage on shares of MasTec in a research note on Tuesday, July 1st. They set a "buy" rating and a $210.00 price target for the company. Two research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $176.94.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 194,249 shares in the company, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director owned 39,782 shares of the company's stock, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

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.