Renasant Bank Has $289,000 Stake in MasTec, Inc. (NYSE:MTZ)

Renasant Bank lowered its position in shares of MasTec, Inc. (NYSE:MTZ) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,120 shares of the construction company’s stock after selling 106 shares during the quarter. Renasant Bank’s holdings in MasTec were worth $289,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of MasTec by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 46,558 shares of the construction company’s stock valued at $6,338,000 after purchasing an additional 1,262 shares in the last quarter. Erste Asset Management GmbH lifted its stake in MasTec by 6.0% in the fourth quarter. Erste Asset Management GmbH now owns 24,285 shares of the construction company’s stock valued at $3,296,000 after buying an additional 1,384 shares during the period. Swiss National Bank boosted its holdings in shares of MasTec by 0.3% during the 4th quarter. Swiss National Bank now owns 124,600 shares of the construction company’s stock worth $16,963,000 after buying an additional 400 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of MasTec during the 4th quarter worth approximately $490,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after acquiring an additional 116 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Trading Down 1.2 %

NYSE:MTZ opened at $116.50 on Friday. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The firm has a 50-day moving average price of $138.76 and a two-hundred day moving average price of $132.06. 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 firm has a market cap of $9.24 billion, a price-to-earnings ratio of 104.02 and a beta of 1.74.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.