The Manufacturers Life Insurance Company Sells 46,732 Shares of MasTec, Inc. (NYSE:MTZ)

The Manufacturers Life Insurance Company lessened its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 249,432 shares of the construction company's stock after selling 46,732 shares during the period. The Manufacturers Life Insurance Company owned about 0.31% of MasTec worth $33,958,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Aquatic Capital Management LLC increased its holdings in MasTec by 66.8% in the 4th quarter. Aquatic Capital Management LLC now owns 7,832 shares of the construction company's stock worth $1,066,000 after acquiring an additional 3,137 shares in the last quarter. Boothbay Fund Management LLC grew its position in MasTec by 208.5% in the fourth quarter. Boothbay Fund Management LLC now owns 40,488 shares of the construction company's stock worth $5,512,000 after acquiring an additional 27,363 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of MasTec during the 4th quarter valued at approximately $613,000. Lord Abbett & CO. LLC bought a new stake in shares of MasTec in the 4th quarter worth about $23,542,000. Finally, Voya Investment Management LLC raised its holdings in shares of MasTec by 5.0% in the fourth quarter. Voya Investment Management LLC now owns 34,895 shares of the construction company's stock worth $4,751,000 after buying an additional 1,669 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

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 shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. This represents a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTZ has been the topic of several research reports. Truist Financial raised their price target on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday. Wolfe Research started coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating for the company. KeyCorp raised their target price on MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a report on Monday. Guggenheim reiterated a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.33.

MasTec Stock Performance

Shares of MTZ stock traded up $1.82 during trading on Tuesday, reaching $145.39. The company had a trading volume of 516,747 shares, compared to its average volume of 936,027. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95. The company has a market capitalization of $11.49 billion, a PE ratio of 129.79 and a beta of 1.71. The firm's 50 day simple moving average is $120.74 and its two-hundred day simple moving average is $132.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

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

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.