Legacy Advisors LLC Reduces Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Legacy Advisors LLC trimmed its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 776,687 shares of the construction company's stock after selling 41,959 shares during the quarter. MasTec makes up 9.4% of Legacy Advisors LLC's portfolio, making the stock its biggest position. Legacy Advisors LLC owned 0.98% of MasTec worth $90,647,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. EverSource Wealth Advisors LLC increased its position in MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares during the period. Colonial Trust Co SC grew its position in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the period. Rothschild Investment LLC grew its position in shares of MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after buying an additional 263 shares during the period. Smartleaf Asset Management LLC grew its position in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after buying an additional 128 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after buying an additional 200 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTZ has been the subject of several analyst reports. Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Truist Financial boosted their target price on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. The Goldman Sachs Group upgraded 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. Stifel Nicolaus boosted their target price on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Wolfe Research initiated coverage on MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $166.75.

MasTec Stock Up 2.1%

NYSE MTZ traded up $3.44 during trading on Tuesday, hitting $169.78. The stock had a trading volume of 639,314 shares, compared to its average volume of 941,417. The company has a market capitalization of $13.40 billion, a PE ratio of 62.42 and a beta of 1.75. The company's 50-day moving average price is $148.36 and its two-hundred day moving average price is $138.15. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $170.09.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, sell-side analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred 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 now owns 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.