Pitcairn Co. Sells 95 Shares of MasTec, Inc. (NYSE:MTZ)

Pitcairn Co. cut its holdings in MasTec, Inc. (NYSE:MTZ) by 5.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,566 shares of the construction company’s stock after selling 95 shares during the period. Pitcairn Co.’s holdings in MasTec were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. New York State Teachers Retirement System boosted its position in shares of MasTec by 21.7% in the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after purchasing an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of 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 buying an additional 13,241 shares during the period. State Street Corp increased its stake in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of MasTec in the 4th quarter valued at approximately $415,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is currently owned by corporate insiders.

MasTec Price Performance

Shares of MTZ opened at $105.87 on Monday. 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, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. The stock has a market capitalization of $8.39 billion, a P/E ratio of 94.53 and a beta of 1.74. The company has a 50 day moving average of $128.35 and a 200-day moving average of $133.67.

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

Wall Street Analyst Weigh In

MTZ has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lowered their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Wolfe Research started coverage on MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating for the company. Finally, Citigroup raised their price target on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.07.

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.