Frontier Capital Management Co. LLC Reduces Stake in MasTec, Inc. (NYSE:MTZ)

Frontier Capital Management Co. LLC cut its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,369 shares of the construction company's stock after selling 23,606 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.19% of MasTec worth $21,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of MasTec by 181.3% in the 4th 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 during the last quarter. Colonial Trust Co SC increased its position in shares of MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the third quarter valued at $25,000. Finally, Smartleaf Asset Management LLC raised its stake in 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 buying an additional 128 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Stock Performance

MTZ traded up $4.62 during trading on Monday, hitting $152.84. The stock had a trading volume of 1,054,815 shares, compared to its average volume of 933,262. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market capitalization of $12.06 billion, a P/E ratio of 136.46 and a beta of 1.71. The company's 50-day moving average price is $122.79 and its 200 day moving average price is $133.62. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business'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 sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MTZ shares. B. Riley restated a "buy" rating and issued a $165.00 price target (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Truist Financial upped their target price on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. upped their target price on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, Piper Sandler lifted their target price on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

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.