MasTec, Inc. (NYSE:MTZ) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC decreased its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,997 shares of the construction company's stock after selling 148,952 shares during the period. Penn Capital Management Company LLC's holdings in MasTec were worth $816,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a report on Tuesday, March 25th. Citigroup lowered their target price on MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Stifel Nicolaus reduced their price target on MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wolfe Research began coverage on MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. Finally, Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $151.00.

MasTec Stock Performance

Shares of NYSE MTZ traded down $1.51 during trading hours on Wednesday, reaching $125.91. The stock had a trading volume of 248,823 shares, compared to its average volume of 936,098. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a fifty-two week low of $86.12 and a fifty-two week high of $166.95. The firm has a 50-day moving average of $120.08 and a 200-day moving average of $132.48. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 112.42 and a beta of 1.62.

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

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was 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 directly owns 23,000 shares of the company's stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is owned by company 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.