MasTec, Inc. (NYSE:MTZ) is SG Capital Management LLC's 10th Largest Position

SG Capital Management LLC cut its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 49.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,231 shares of the construction company's stock after selling 197,217 shares during the quarter. MasTec accounts for approximately 2.6% of SG Capital Management LLC's holdings, making the stock its 10th largest position. SG Capital Management LLC owned approximately 0.25% of MasTec worth $27,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SIR Capital Management L.P. lifted its position in MasTec by 29.1% in the 4th quarter. SIR Capital Management L.P. now owns 77,723 shares of the construction company's stock valued at $10,581,000 after acquiring an additional 17,500 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of MasTec by 175.1% during the 4th quarter. Royal Bank of Canada now owns 130,301 shares of the construction company's stock valued at $17,739,000 after buying an additional 82,929 shares during the period. Raiffeisen Bank International AG bought a new position in shares of MasTec during the 4th quarter valued at $12,358,000. Polar Asset Management Partners Inc. bought a new position in shares of MasTec during the 4th quarter valued at $3,036,000. Finally, ProShare Advisors LLC lifted its holdings in shares of MasTec by 7.4% during the 4th quarter. ProShare Advisors LLC now owns 2,881 shares of the construction company's stock valued at $392,000 after buying an additional 198 shares during the period. 78.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. B. Riley reissued a "buy" rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Truist Financial increased their price target on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. KeyCorp increased their price target on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Robert W. Baird lowered their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $162.06.

MasTec Price Performance

NYSE:MTZ traded down $0.46 on Monday, reaching $157.31. 723,133 shares of the company's stock traded hands, compared to its average volume of 937,708. 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 stock has a 50-day simple moving average of $126.98 and a 200-day simple moving average of $134.79. The firm has a market cap of $12.41 billion, a PE ratio of 140.46 and a beta of 1.71. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.17. The business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned ($0.13) earnings per share. Equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director now owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

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.