MasTec, Inc. (NYSE:MTZ) Stake Boosted by Barclays PLC

Barclays PLC boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 13.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 275,216 shares of the construction company’s stock after purchasing an additional 33,150 shares during the quarter. Barclays PLC’s holdings in MasTec were worth $37,468,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System raised its holdings in shares of MasTec by 21.7% during the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after acquiring an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC grew its position in MasTec by 45.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Exchange Traded Concepts LLC grew its position in MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after purchasing an additional 13,241 shares in the last quarter. Merit Financial Group LLC acquired a new stake in MasTec during the 4th quarter valued at $415,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of MasTec in the fourth quarter valued at $485,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This 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 at the SEC website. Insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Guggenheim reissued a “buy” rating and set a $195.00 price target on shares of MasTec in a research report on Tuesday, March 25th. Robert W. Baird dropped their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. KeyCorp decreased their price target on shares of MasTec from $168.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup upped their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Truist Financial cut their target price on shares of MasTec from $197.00 to $154.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.00.

MasTec Stock Performance

MTZ opened at $115.97 on Friday. 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 company has a market cap of $9.17 billion, a PE ratio of 103.55 and a beta of 1.62. The stock has a 50-day moving average of $122.63 and a 200-day moving average of $132.79. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95.

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

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.