MasTec, Inc. (NYSE:MTZ) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,292 shares of the construction company’s stock after selling 2,049 shares during the period. Moran Wealth Management LLC owned approximately 0.11% of MasTec worth $11,884,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MTZ. Allworth Financial LP grew its stake in MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock valued at $81,000 after purchasing an additional 78 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares during the last quarter. Arizona State Retirement System grew its position in shares of MasTec by 0.5% during 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 in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after buying an additional 94 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MTZ. Guggenheim initiated coverage on shares of MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective for the company. Barclays lifted their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Truist Financial upped their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus decreased their target price on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.14.

MasTec Stock Performance

MTZ stock opened at $115.33 on Monday. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 102.97 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock’s fifty day moving average is $140.09 and its two-hundred day moving average is $132.15.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 for the quarter, compared to the consensus estimate of $3.32 billion. On average, research analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

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.