MasTec, Inc. (NYSE:MTZ) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 35.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,223 shares of the construction company's stock after selling 2,295 shares during the quarter. Tower Research Capital LLC TRC's holdings in MasTec were worth $575,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MTZ. Barclays PLC increased its holdings in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after buying an additional 209,472 shares during the last quarter. Virtu Financial LLC acquired a new stake in MasTec during the third quarter worth $254,000. Wilmington Savings Fund Society FSB purchased a new stake in MasTec in the third quarter valued at $25,000. Blankinship & Foster LLC acquired a new position in shares of MasTec in the 3rd quarter valued at $246,000. Finally, Tidal Investments LLC grew its holdings in shares of MasTec by 5.7% during the 3rd quarter. Tidal Investments LLC now owns 10,912 shares of the construction company's stock worth $1,343,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Up 5.3 %

NYSE MTZ traded up $7.06 on Friday, hitting $141.07. 1,633,328 shares of the stock were exchanged, compared to its average volume of 936,546. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The company has a 50-day moving average price of $120.52 and a 200-day moving average price of $132.68. The company has a market cap of $11.15 billion, a PE ratio of 125.96 and a beta of 1.71. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 21.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MTZ. Piper Sandler started coverage on shares of MasTec in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 target price on the stock. Barclays increased their price objective on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. B. Riley reissued a "buy" rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Guggenheim restated a "buy" rating and set a $195.00 price target on shares of MasTec in a research note on Tuesday, March 25th. Finally, Citigroup dropped their price objective on MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.

MasTec 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.