MasTec, Inc. (NYSE:MTZ) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ – Get Rating) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 541,803 shares of the construction company’s stock after selling 2,887 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of MasTec worth $34,405,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in MasTec during the third quarter worth about $38,281,000. Vanguard Group Inc. increased its stake in MasTec by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock valued at $480,724,000 after purchasing an additional 447,376 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in MasTec by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,285,284 shares of the construction company’s stock worth $111,948,000 after purchasing an additional 390,531 shares during the last quarter. Invesco Ltd. boosted its position in MasTec by 125.3% during the first quarter. Invesco Ltd. now owns 700,891 shares of the construction company’s stock worth $61,049,000 after purchasing an additional 389,752 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in MasTec in the second quarter valued at $20,852,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cowen decreased their price objective on shares of MasTec from $125.00 to $120.00 in a research report on Tuesday, December 27th. Barclays lifted their price objective on MasTec from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. StockNews.com upgraded MasTec from a “sell” rating to a “hold” rating in a report on Friday, January 20th. Craig Hallum cut MasTec from a “buy” rating to a “hold” rating and set a $97.00 price objective for the company. in a research report on Monday, February 27th. Finally, TD Cowen boosted their price objective on shares of MasTec from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, March 6th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, MasTec currently has an average rating of “Moderate Buy” and a consensus price target of $113.18.

MasTec Stock Performance

Shares of MTZ stock opened at $92.62 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 1.11. The company has a market cap of $7.28 billion, a PE ratio of 220.53 and a beta of 1.39. The company’s fifty day simple moving average is $96.32 and its 200-day simple moving average is $86.43. MasTec, Inc. has a 52 week low of $62.36 and a 52 week high of $103.50.

MasTec (NYSE:MTZ – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The construction company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. MasTec had a return on equity of 8.30% and a net margin of 0.34%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.92 billion. As a group, equities research analysts anticipate that MasTec, Inc. will post 4.45 EPS for the current year.

MasTec Profile

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MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.