UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 34,144 Shares of MasTec, Inc. (NYSE:MTZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,174 shares of the construction company's stock after selling 34,144 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.39% of MasTec worth $41,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allworth Financial LP raised its stake in shares of MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company's stock worth $81,000 after purchasing an additional 78 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of MasTec by 0.5% during the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after purchasing an additional 89 shares in the last quarter. Fielder Capital Group LLC boosted its stake in shares of MasTec by 6.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock valued at $247,000 after purchasing an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of MasTec by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock valued at $1,883,000 after purchasing an additional 105 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of MasTec by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company's stock worth $326,000 after acquiring an additional 116 shares during the period. Institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp lifted their target price on MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Wolfe Research initiated coverage on MasTec in a report on Monday, March 31st. They set a "peer perform" rating for the company. Piper Sandler upped their price target on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Truist Financial lifted their price objective on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.69.

MasTec Trading Down 0.3%

Shares of MasTec stock traded down $0.48 during trading hours on Friday, reaching $155.60. The stock had a trading volume of 146,940 shares, compared to its average volume of 939,545. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 139.24 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95. The firm has a 50 day simple moving average of $131.88 and a two-hundred day simple moving average of $135.65.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) 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 company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the business earned ($0.13) EPS. MasTec's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share 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 value of $461,670.00. Following the transaction, the director now directly owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec 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 completion of the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

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.