Vanguard Group Inc. Sells 16,387 Shares of MasTec, Inc. (NYSE:MTZ)

Vanguard Group Inc. lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,737,699 shares of the construction company's stock after selling 16,387 shares during the period. Vanguard Group Inc. owned about 7.27% of MasTec worth $669,647,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. New Age Alpha Advisors LLC purchased a new position in MasTec during the 1st quarter valued at about $1,456,000. J. Safra Sarasin Holding AG bought a new stake in MasTec during the 1st quarter valued at approximately $2,678,000. Bank of Nova Scotia boosted its position in MasTec by 78.1% during the 1st quarter. Bank of Nova Scotia now owns 93,352 shares of the construction company's stock valued at $10,895,000 after acquiring an additional 40,936 shares in the last quarter. Banco Santander S.A. boosted its position in MasTec by 20.6% during the 1st quarter. Banco Santander S.A. now owns 37,561 shares of the construction company's stock valued at $4,384,000 after acquiring an additional 6,412 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in MasTec by 37.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,668 shares of the construction company's stock valued at $311,000 after acquiring an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the 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 transaction, the chief operating officer directly owned 194,249 shares of the company's stock, valued at $33,993,575. This represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the transaction, the executive vice president directly owned 101,349 shares in the company, valued at $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

MasTec Stock Down 0.2%

MTZ stock traded down $0.35 during midday trading on Friday, hitting $177.65. The company's stock had a trading volume of 1,153,484 shares, compared to its average volume of 1,062,308. The company has a market cap of $14.02 billion, a PE ratio of 52.56 and a beta of 1.83. MasTec, Inc. has a 12 month low of $96.01 and a 12 month high of $194.00. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The firm's 50-day moving average is $173.64 and its 200-day moving average is $147.09.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.08. The business had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MTZ shares. Roth Capital started coverage on MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective on the stock. Robert W. Baird raised MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research report on Monday, August 4th. Stifel Nicolaus lifted their price objective on MasTec from $181.00 to $198.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Citigroup cut their price objective on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Finally, Guggenheim reissued a "buy" rating and issued a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $195.12.

About MasTec

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.