Moran Wealth Management LLC Trims Position in MasTec, Inc. (NYSE:MTZ)

Moran Wealth Management LLC decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,049 shares of the construction company's stock after selling 4,243 shares during the period. Moran Wealth Management LLC owned approximately 0.11% of MasTec worth $9,693,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MTZ. EverSource Wealth Advisors LLC increased its position in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after acquiring an additional 116 shares in the last quarter. Colonial Trust Co SC boosted its stake in MasTec by 335.7% during 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. Smartleaf Asset Management LLC increased its holdings in 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 purchasing an additional 128 shares in the last quarter. Rothschild Investment LLC increased its holdings in 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 purchasing an additional 263 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after purchasing an additional 190 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Performance

NYSE:MTZ traded up $2.31 during trading hours on Thursday, reaching $170.87. The stock had a trading volume of 629,640 shares, compared to its average volume of 940,208. The stock has a market cap of $13.48 billion, a P/E ratio of 62.82 and a beta of 1.75. The stock has a 50 day simple moving average of $149.39 and a 200 day simple moving average of $138.36. 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 $172.10.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MTZ shares. Citigroup upped their price target on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Truist Financial increased 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. The Goldman Sachs Group raised shares of MasTec from a "neutral" rating to a "buy" rating and raised their price target for the company from $156.00 to $195.00 in a research report on Friday, June 6th. Finally, Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $166.75.

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.