Mackenzie Financial Corp Sells 12,025 Shares of MasTec, Inc. (NYSE:MTZ)

Mackenzie Financial Corp reduced its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,615 shares of the construction company's stock after selling 12,025 shares during the period. Mackenzie Financial Corp owned about 0.37% of MasTec worth $33,918,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hood River Capital Management LLC lifted its stake in MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after acquiring an additional 51,531 shares during the last quarter. AQR Capital Management LLC grew its stake in MasTec by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after buying an additional 91,564 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after buying an additional 363,502 shares during the last quarter. First Trust Advisors LP grew its stake in MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after buying an additional 373,145 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock valued at $65,440,000 after buying an additional 4,024 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chief operating officer owned 194,249 shares of the company's stock, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on 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 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. Corporate insiders own 21.30% of the company's stock.

MasTec Stock Down 8.0%

NYSE MTZ traded down $15.17 during trading hours on Friday, reaching $174.04. 3,637,842 shares of the company's stock were exchanged, compared to its average volume of 1,057,149. The company's 50-day moving average is $168.58 and its two-hundred day moving average is $144.95. MasTec, Inc. has a one year low of $89.96 and a one year high of $194.00. 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 company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 63.99 and a beta of 1.75.

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 the consensus estimate of $1.41 by $0.08. The company had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The business's quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. On average, analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group raised shares of MasTec from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $156.00 to $195.00 in a research report on Friday, June 6th. Roth Capital assumed coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 target price on the stock. Jefferies Financial Group began coverage on shares of MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 target price on the stock. Finally, Barclays reissued an "overweight" rating and issued a $200.00 price target (up previously from $145.00) on shares of MasTec in a report on Monday, July 21st. Two research 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. According to data from MarketBeat, MasTec has an average rating of "Buy" and a consensus target price of $179.88.

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.