Bellecapital International Ltd. Sells 54,625 Shares of MasTec, Inc. (NYSE:MTZ)

Bellecapital International Ltd. decreased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 94.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,495 shares of the construction company's stock after selling 54,625 shares during the period. Bellecapital International Ltd.'s holdings in MasTec were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of MasTec by 6.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,281 shares of the construction company's stock valued at $1,331,000 after purchasing an additional 940 shares in the last quarter. Citigroup Inc. grew its holdings in MasTec by 139.8% during the 1st quarter. Citigroup Inc. now owns 48,537 shares of the construction company's stock worth $4,228,000 after acquiring an additional 28,295 shares during the period. PNC Financial Services Group Inc. grew its holdings in MasTec by 121.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company's stock worth $360,000 after acquiring an additional 2,260 shares during the period. Bank of Montreal Can boosted its position in shares of MasTec by 97.1% during the first quarter. Bank of Montreal Can now owns 30,573 shares of the construction company's stock worth $2,635,000 after purchasing an additional 15,061 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of MasTec by 37.2% during the first quarter. MetLife Investment Management LLC now owns 38,037 shares of the construction company's stock worth $3,313,000 after purchasing an additional 10,310 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTZ. Citigroup lifted their price target on shares of MasTec from $74.00 to $99.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. Barclays boosted their price objective on shares of MasTec from $55.00 to $106.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. KeyCorp boosted their price objective on shares of MasTec from $92.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, March 4th. DA Davidson reaffirmed a "buy" rating and issued a $70.00 price objective on shares of MasTec in a research report on Monday, March 4th. Finally, Stifel Nicolaus boosted their price objective on shares of MasTec from $70.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, December 19th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, MasTec has a consensus rating of "Moderate Buy" and an average price target of $96.46.

MasTec Stock Performance

Shares of MasTec stock traded up $0.63 during trading on Monday, hitting $93.88. 591,234 shares of the stock were exchanged, compared to its average volume of 978,859. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -141.18 and a beta of 1.62. The company has a fifty day moving average price of $77.76 and a 200-day moving average price of $70.14. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $123.33. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. As a group, equities analysts predict that MasTec, Inc. will post 2.33 EPS for the current fiscal year.

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.