MasTec, Inc. (NYSE:MTZ) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 93.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 620 shares of the construction company’s stock after selling 8,320 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MasTec were worth $71,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MTZ. EverSource Wealth Advisors LLC increased its holdings in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the period. Colonial Trust Co SC increased its holdings in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 141 shares during the period. Rothschild Investment LLC increased its holdings in MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after buying an additional 263 shares during the period. Smartleaf Asset Management LLC increased its holdings in MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after buying an additional 128 shares during the period. Finally, Harbor Investment Advisory LLC increased its holdings in MasTec by 147.1% in the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company’s stock worth $39,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 1.5%

Shares of NYSE:MTZ opened at $171.89 on Monday. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $173.24. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 63.19 and a beta of 1.75. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. The business’s 50 day moving average price is $156.81 and its 200-day moving average price is $140.12.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the firm posted ($0.13) EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MTZ shares. Stifel Nicolaus increased their price target on shares of MasTec from $171.00 to $181.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. KeyCorp increased their price target on shares of MasTec from $140.00 to $163.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Roth Capital initiated coverage on MasTec in a research report on Tuesday, July 1st. They issued a “buy” rating and a $210.00 price objective on the stock. Citigroup upped their price objective on MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Wall Street Zen lowered MasTec from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $169.29.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director owned 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 21.30% of the company’s stock.

About MasTec

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.