Mackenzie Financial Corp Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

Mackenzie Financial Corp reduced its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 302,640 shares of the construction company's stock after selling 30,000 shares during the period. Mackenzie Financial Corp owned approximately 0.38% of MasTec worth $41,201,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MTZ. Ameliora Wealth Management Ltd. bought a new stake in shares of MasTec in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC grew its position in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings 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, Global Retirement Partners LLC raised its stake in MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after purchasing an additional 190 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MTZ shares. Jefferies Financial Group assumed coverage on shares of MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday. B. Riley reiterated a "buy" rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Wolfe Research assumed coverage on shares of MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. Finally, Wall Street Zen raised shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and a consensus price target of $162.69.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the company's 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 completion of the sale, the director now directly owns 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. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Performance

Shares of NYSE MTZ traded down $0.37 during trading on Wednesday, hitting $155.07. The company had a trading volume of 723,683 shares, compared to its average volume of 942,457. The stock has a 50 day simple moving average of $131.39 and a 200 day simple moving average of $135.57. The firm has a market capitalization of $12.24 billion, a P/E ratio of 138.46 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 debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted ($0.13) EPS. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.