Nuveen Asset Management LLC Has $22.47 Million Position in MasTec, Inc. (NYSE:MTZ)

Nuveen Asset Management LLC decreased its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 14.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 165,020 shares of the construction company's stock after selling 27,877 shares during the period. Nuveen Asset Management LLC owned about 0.21% of MasTec worth $22,466,000 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. Arrowstreet Capital Limited Partnership acquired a new position in MasTec in the 4th quarter worth approximately $59,910,000. First Trust Advisors LP boosted its stake in shares of MasTec by 173.8% during 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 period. Balyasny Asset Management L.P. boosted its stake in shares of MasTec by 137.6% during 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 period. Merewether Investment Management LP acquired a new stake in shares of MasTec during the 4th quarter valued at $46,612,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of MasTec during the 4th quarter valued at $31,730,000. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Stock Performance

MTZ traded up $1.01 during trading on Thursday, hitting $156.21. The stock had a trading volume of 98,150 shares, compared to its average volume of 1,117,534. The firm has a market cap of $12.33 billion, a PE ratio of 139.48 and a beta of 1.71. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a 50 day simple moving average of $131.39 and a 200-day simple moving average of $135.57.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS. Analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec 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 sale, the director now owns 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MTZ. Robert W. Baird decreased their target price on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. KeyCorp lifted their target price on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen raised shares of MasTec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Truist Financial lifted 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. Finally, Guggenheim reissued a "buy" rating and set a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and an average price target of $162.69.

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.