Yousif Capital Management LLC Decreases Stake in MasTec, Inc. (NYSE:MTZ)

Yousif Capital Management LLC cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,147 shares of the construction company’s stock after selling 594 shares during the quarter. Yousif Capital Management LLC’s holdings in MasTec were worth $2,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC lifted its stake in MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 141 shares during the period. Rothschild Investment LLC boosted its holdings in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock valued at $32,000 after acquiring an additional 263 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares during the period. Finally, Harbor Investment Advisory LLC increased its stake in shares of MasTec by 147.1% in the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company’s stock worth $39,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

MTZ opened at $161.95 on Friday. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95. The firm has a market capitalization of $12.78 billion, a PE ratio of 144.60 and a beta of 1.75. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $141.64 and its 200 day moving average price is $137.07.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) earnings per share. As a group, sell-side analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director now directly owns 39,782 shares of the company’s stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTZ. Piper Sandler increased their price target on MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Wall Street Zen raised MasTec from a “buy” rating to a “strong-buy” rating in a report on Monday, June 9th. Wolfe Research assumed coverage on MasTec in a report on Monday, March 31st. They issued a “peer perform” rating for the company. Citigroup raised their price objective on shares of MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Truist Financial boosted their target price on shares of MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MasTec currently has a consensus rating of “Buy” and an average price target of $166.75.

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.