Mackenzie Financial Corp Sells 30,000 Shares of MasTec, Inc. (NYSE:MTZ)

Mackenzie Financial Corp decreased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing 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 quarter. Mackenzie Financial Corp owned approximately 0.38% of MasTec worth $41,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 116 shares during the last quarter. Colonial Trust Co SC boosted its stake in MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after buying an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MTZ. Guggenheim reissued a "buy" rating and set a $195.00 price target on shares of MasTec in a research note on Monday, May 5th. B. Riley reaffirmed a "buy" rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Truist Financial raised their price objective on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Wolfe Research assumed coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating for the company. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $162.69.

MasTec Trading Down 0.9%

Shares of NYSE MTZ traded down $1.34 during midday trading on Friday, hitting $154.73. The company's stock had a trading volume of 165,247 shares, compared to its average volume of 939,636. 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 business's 50 day moving average is $131.88 and its two-hundred day moving average is $135.65. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The firm has a market cap of $12.21 billion, a P/E ratio of 137.97 and a beta of 1.71.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results 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. 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 period in the prior year, the business posted ($0.13) earnings per share. The company's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Insiders Place Their Bets

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

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.