Cresset Asset Management LLC Reduces Stock Position in MasTec, Inc. (NYSE:MTZ)

Cresset Asset Management LLC decreased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 76.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,014 shares of the construction company's stock after selling 9,633 shares during the period. Cresset Asset Management LLC's holdings in MasTec were worth $410,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MTZ. Crestline Management LP raised its holdings in shares of MasTec by 189.4% in the fourth quarter. Crestline Management LP now owns 18,920 shares of the construction company's stock valued at $2,576,000 after buying an additional 12,382 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in MasTec by 326.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 88,709 shares of the construction company's stock valued at $12,077,000 after acquiring an additional 67,890 shares during the period. Bridgefront Capital LLC raised its stake in MasTec by 16.5% during the 4th quarter. Bridgefront Capital LLC now owns 3,870 shares of the construction company's stock valued at $527,000 after acquiring an additional 547 shares during the last quarter. Captrust Financial Advisors raised its stake in MasTec by 20.0% during the 4th quarter. Captrust Financial Advisors now owns 5,451 shares of the construction company's stock valued at $742,000 after acquiring an additional 910 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in MasTec during the 4th quarter worth approximately $575,000. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Price Performance

MasTec stock traded up $1.64 during mid-day trading on Tuesday, reaching $159.00. The company had a trading volume of 272,079 shares, compared to its average volume of 1,134,925. The stock's 50-day simple moving average is $126.98 and its 200-day simple moving average is $134.79. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $12.55 billion, a P/E ratio of 141.13 and a beta of 1.71.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MTZ shares. Citigroup boosted their target price on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a report on Monday, May 5th. KeyCorp boosted their price objective on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wolfe Research began coverage on shares of MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating for the company. Stifel Nicolaus lifted their target price on shares of MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Robert W. Baird dropped their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MasTec presently has an average rating of "Moderate Buy" and an average target price of $162.06.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated 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. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This represents 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 owned by corporate 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.