CANADA LIFE ASSURANCE Co Decreases Holdings in MasTec, Inc. (NYSE:MTZ)

CANADA LIFE ASSURANCE Co lessened its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 15.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,766 shares of the construction company's stock after selling 7,623 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.05% of MasTec worth $5,682,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its stake in shares of MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Virtu Financial LLC acquired a new position in MasTec in the third quarter valued at about $254,000. Sanctuary Advisors LLC purchased a new stake in MasTec in the third quarter valued at approximately $500,000. Wilmington Savings Fund Society FSB purchased a new position in MasTec during the 3rd quarter valued at about $25,000. Finally, Blankinship & Foster LLC acquired a new stake in shares of MasTec during the third quarter worth about $246,000. Institutional investors own 78.10% of the company's stock.

MasTec Price Performance

Shares of MasTec stock traded up $0.82 during trading on Tuesday, reaching $126.99. 90,247 shares of the company's stock were exchanged, compared to its average volume of 934,407. The firm's 50-day moving average price is $120.17 and its 200 day moving average price is $132.51. MasTec, Inc. has a 1-year low of $86.12 and a 1-year high of $166.95. 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 company has a market cap of $10.04 billion, a P/E ratio of 113.18 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. As a group, research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred 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 sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. 21.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MTZ shares. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Piper Sandler assumed coverage on MasTec in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price objective on the stock. Wolfe Research assumed coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating for the company. JPMorgan Chase & Co. increased their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, B. Riley reissued a "buy" rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, MasTec currently has a consensus rating of "Moderate Buy" and an average target price of $151.00.

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.