MasTec, Inc. (NYSE:MTZ) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,792 shares of the construction company's stock after selling 52,508 shares during the period. Pinebridge Investments L.P. owned approximately 0.12% of MasTec worth $13,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of MasTec by 15.1% in the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company's stock valued at $81,000 after buying an additional 78 shares during the period. Arizona State Retirement System boosted its stake in shares of MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock worth $2,504,000 after buying an additional 89 shares during the last quarter. Fielder Capital Group LLC boosted its stake in shares of MasTec by 6.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock worth $247,000 after buying an additional 105 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of MasTec by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock worth $1,883,000 after buying an additional 105 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of MasTec by 29.8% in the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock worth $67,000 after buying an additional 113 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

MTZ traded up $0.94 on Tuesday, hitting $127.11. 156,564 shares of the company's stock were exchanged, compared to its average volume of 934,658. MasTec, Inc. has a fifty-two week low of $86.12 and a fifty-two week high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $120.17 and a 200-day moving average price of $132.51. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 113.50 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. As a group, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTZ. Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. KeyCorp lowered their target price on MasTec from $168.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wolfe Research began coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Stifel Nicolaus lowered their target price on MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, B. Riley reiterated a "buy" rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Three investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $151.00.

Insiders Place Their Bets

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business's 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 transaction, the director now owns 23,000 shares of the company's stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.30% of the stock is currently owned by corporate insiders.

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.