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 cut its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 308,174 shares of the construction company's stock after selling 34,144 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.39% of MasTec worth $41,955,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 116 shares during the period. Colonial Trust Co SC lifted its position in shares of MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after acquiring an additional 190 shares during the period. Institutional investors own 78.10% of the company's stock.

Insider Activity

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

MasTec Price Performance

MTZ traded down $0.37 during midday trading on Wednesday, hitting $155.07. 723,683 shares of the company traded hands, compared to its average volume of 942,457. The business has a 50 day simple moving average of $130.77 and a two-hundred day simple moving average of $135.44. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $166.95. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 138.46 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 (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the prior year, the company earned ($0.13) EPS. MasTec's revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on MTZ shares. Wolfe Research began coverage on MasTec in a research note on Monday, March 31st. They set a "peer perform" rating on the stock. Robert W. Baird cut their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Citigroup boosted their target price on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $162.69.

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.