SG Capital Management LLC Lowers Stock Holdings in MasTec, Inc. (NYSE:MTZ)

SG Capital Management LLC cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,231 shares of the construction company’s stock after selling 197,217 shares during the period. MasTec makes up 2.6% of SG Capital Management LLC’s portfolio, making the stock its 10th biggest position. SG Capital Management LLC owned about 0.25% of MasTec worth $27,123,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after buying an additional 116 shares in the last quarter. Colonial Trust Co SC increased its position in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after buying an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares during the period. 78.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MTZ. Guggenheim reissued a “buy” rating and issued a $195.00 price objective on shares of MasTec in a research note on Monday, May 5th. B. Riley reiterated a “buy” rating and set a $165.00 target price (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Wolfe Research initiated coverage on MasTec in a report on Monday, March 31st. They issued a “peer perform” rating on the stock. Barclays lifted 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. Finally, Citigroup upped their target price on MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MasTec has an average rating of “Moderate Buy” and an average price target of $160.33.

MasTec Stock Performance

MTZ opened at $155.61 on Friday. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a fifty day moving average price of $125.34 and a 200 day moving average price of $134.17. The stock has a market cap of $12.28 billion, a P/E ratio of 138.94 and a beta of 1.71.

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

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now owns 39,782 shares of the company’s stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

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.