Blue Trust Inc. Sells 116 Shares of MasTec, Inc. (NYSE:MTZ)

Blue Trust Inc. cut its holdings in MasTec, Inc. (NYSE:MTZ) by 20.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 445 shares of the construction company’s stock after selling 116 shares during the period. Blue Trust Inc.’s holdings in MasTec were worth $55,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MTZ. UMB Bank n.a. lifted its holdings in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. Second Line Capital LLC grew its holdings in MasTec by 0.8% in the first quarter. Second Line Capital LLC now owns 30,026 shares of the construction company’s stock worth $2,800,000 after purchasing an additional 225 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in MasTec by 8.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,281 shares of the construction company’s stock valued at $351,000 after buying an additional 247 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in MasTec in the 2nd quarter valued at $27,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Trading Up 2.4 %

MasTec stock opened at $122.90 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a market cap of $9.77 billion, a PE ratio of -867.57 and a beta of 1.70. The stock’s 50 day simple moving average is $118.57 and its two-hundred day simple moving average is $109.26. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $130.22.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that MasTec, Inc. will post 2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. began coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Truist Financial lifted their target price on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. B. Riley raised their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.00.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,800 shares of company stock valued at $2,978,212. Insiders own 21.30% of the company’s stock.

MasTec 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.