SG Americas Securities LLC Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

SG Americas Securities LLC decreased its holdings in MasTec, Inc. (NYSE:MTZGet Rating) by 23.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,430 shares of the construction company’s stock after selling 5,934 shares during the quarter. SG Americas Securities LLC’s holdings in MasTec were worth $1,234,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MTZ. Raymond James Financial Services Advisors Inc. raised its holdings in MasTec by 6.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,281 shares of the construction company’s stock worth $1,331,000 after purchasing an additional 940 shares during the period. Citigroup Inc. raised its holdings in MasTec by 139.8% in the 1st quarter. Citigroup Inc. now owns 48,537 shares of the construction company’s stock worth $4,228,000 after purchasing an additional 28,295 shares during the period. PNC Financial Services Group Inc. raised its holdings in MasTec by 121.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company’s stock worth $360,000 after purchasing an additional 2,260 shares during the period. Bank of Montreal Can raised its holdings in MasTec by 97.1% in the 1st quarter. Bank of Montreal Can now owns 30,573 shares of the construction company’s stock worth $2,635,000 after purchasing an additional 15,061 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in MasTec by 37.2% in the 1st quarter. MetLife Investment Management LLC now owns 38,037 shares of the construction company’s stock worth $3,313,000 after purchasing an additional 10,310 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MTZ shares. Cowen reduced their target price on MasTec from $125.00 to $120.00 in a report on Tuesday, December 27th. Credit Suisse Group increased their target price on MasTec from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, November 7th. Cowen reduced their target price on MasTec from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, December 27th. B. Riley increased their target price on MasTec from $90.00 to $112.00 in a report on Monday, November 7th. Finally, StockNews.com cut MasTec from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.30.

MasTec Price Performance

NYSE:MTZ opened at $98.04 on Tuesday. MasTec, Inc. has a one year low of $62.36 and a one year high of $98.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.50 and a current ratio of 1.57. The stock has a market cap of $7.71 billion, a PE ratio of 69.04 and a beta of 1.38. The stock has a 50 day moving average price of $89.26 and a 200 day moving average price of $80.72.

MasTec (NYSE:MTZGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.54 billion. MasTec had a return on equity of 9.21% and a net margin of 1.24%. Equities research analysts expect that MasTec, Inc. will post 2.79 EPS for the current fiscal year.

MasTec Company Profile

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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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

See Also

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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