MetLife Investment Management LLC Increases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

MetLife Investment Management LLC grew its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,724 shares of the construction company's stock after acquiring an additional 2,898 shares during the period. MetLife Investment Management LLC's holdings in MasTec were worth $4,727,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in MasTec during the 3rd quarter worth about $25,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew 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 worth $25,000 after acquiring an additional 116 shares during the period. Smartleaf Asset Management LLC raised its position in MasTec by 93.4% during 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 lifted its holdings in MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after acquiring an additional 190 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus dropped their price objective on shares of MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wolfe Research initiated coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating on the stock. Citigroup cut their price objective on shares of MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a report on Friday, April 25th. Piper Sandler initiated coverage on shares of MasTec in a research note on Tuesday, April 8th. They set an "overweight" rating and a $134.00 target price on the stock. Finally, Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Tuesday, March 25th. Three 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $151.00.

MasTec Price Performance

Shares of MasTec stock traded down $0.18 during mid-day trading on Wednesday, reaching $127.24. 924,008 shares of the stock traded hands, compared to its average volume of 938,963. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $120.09 and a 200 day moving average of $132.44. The stock has a market capitalization of $10.06 billion, a PE ratio of 113.61 and a beta of 1.62. MasTec, Inc. has a fifty-two week low of $86.12 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 for the quarter, compared to analyst estimates of $3.32 billion. On average, analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the 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 sale, the director now owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.30% of the company's stock.

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.