Sherbrooke Park Advisers LLC Sells 3,499 Shares of MasTec, Inc. (NYSE:MTZ)

Sherbrooke Park Advisers LLC cut its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 57.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,557 shares of the construction company's stock after selling 3,499 shares during the period. Sherbrooke Park Advisers LLC's holdings in MasTec were worth $348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of MasTec during the 4th quarter valued at about $240,000. Merit Financial Group LLC acquired a new position in shares of MasTec during the 4th quarter valued at about $415,000. HB Wealth Management LLC acquired a new position in shares of MasTec during the 4th quarter valued at about $232,000. Finally, Kera Capital Partners Inc. acquired a new position in shares of MasTec during the 4th quarter valued at about $253,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of MTZ stock traded up $1.77 during mid-day trading on Friday, reaching $152.54. The stock had a trading volume of 772,768 shares, compared to its average volume of 941,951. The firm's 50 day simple moving average is $129.66 and its 200 day simple moving average is $135.29. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95. The firm has a market cap of $12.04 billion, a PE ratio of 136.19 and a beta of 1.71.

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

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. This trade represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTZ. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Stifel Nicolaus increased their price objective on MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wall Street Zen raised MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday. JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, KeyCorp raised their target price on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Three research 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 stock. According to data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and an average price target of $162.06.

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.