Raymond James & Associates Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Raymond James & Associates decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 56.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,091 shares of the construction company’s stock after selling 48,680 shares during the quarter. Raymond James & Associates’ holdings in MasTec were worth $2,884,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Thrivent Financial for Lutherans raised its stake in MasTec by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 15,124 shares of the construction company’s stock valued at $960,000 after purchasing an additional 132 shares in the last quarter. Covestor Ltd raised its stake in shares of MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after acquiring an additional 145 shares during the period. Sheets Smith Wealth Management raised its stake in shares of MasTec by 0.9% in the third quarter. Sheets Smith Wealth Management now owns 20,160 shares of the construction company’s stock valued at $1,451,000 after acquiring an additional 185 shares during the period. Belpointe Asset Management LLC raised its stake in shares of MasTec by 7.9% in the first quarter. Belpointe Asset Management LLC now owns 2,541 shares of the construction company’s stock valued at $240,000 after acquiring an additional 185 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of MasTec by 12.7% in the second quarter. Captrust Financial Advisors now owns 1,796 shares of the construction company’s stock valued at $129,000 after acquiring an additional 203 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 4.3 %

Shares of MasTec stock opened at $87.96 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $123.33. The firm’s 50-day moving average is $82.97 and its two-hundred day moving average is $71.05. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -133.27 and a beta of 1.62.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, research analysts expect that MasTec, Inc. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MTZ shares. Truist Financial started coverage on shares of MasTec in a research note on Thursday, March 14th. They issued a “hold” rating and a $96.00 target price on the stock. KeyCorp increased their target price on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Stifel Nicolaus increased their target price on shares of MasTec from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. TD Cowen upped their price target on shares of MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, Barclays upped their price target on shares of MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.46.

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.