Canada Pension Plan Investment Board Trims Position in MasTec, Inc. (NYSE:MTZ)

Canada Pension Plan Investment Board trimmed its position in MasTec, Inc. (NYSE:MTZ) by 6.5% during the 4th quarter, HoldingsChannel reports. The firm owned 194,300 shares of the construction company’s stock after selling 13,500 shares during the period. Canada Pension Plan Investment Board’s holdings in MasTec were worth $26,452,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MTZ. New York State Teachers Retirement System boosted its holdings in shares of MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of 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 acquiring 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 valued at $2,433,000 after acquiring an additional 13,241 shares during the period. Merit Financial Group LLC purchased a new stake in shares of MasTec in the 4th quarter worth $415,000. Finally, CWA Asset Management Group LLC purchased a new position in MasTec during the fourth quarter valued at $485,000. 78.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of MasTec 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 transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Guggenheim reaffirmed a “buy” rating and set a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. KeyCorp dropped their price target on shares of MasTec from $168.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays upped their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average target price of $152.00.

MasTec Stock Performance

MasTec stock opened at $115.97 on Friday. 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 $83.04 and a twelve month high of $166.95. The company’s 50-day moving average price is $122.14 and its 200-day moving average price is $132.80. The company has a market cap of $9.17 billion, a PE ratio of 103.55 and a beta of 1.62.

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

MasTec Company 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.