Charles Schwab Investment Management Inc. Cuts Stock Position in MasTec, Inc. (NYSE:MTZ)

Charles Schwab Investment Management Inc. cut its holdings in MasTec, Inc. (NYSE:MTZ) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 611,876 shares of the construction company’s stock after selling 12,592 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.78% of MasTec worth $71,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Forum Financial Management LP lifted its position in MasTec by 3.9% in the first quarter. Forum Financial Management LP now owns 2,097 shares of the construction company’s stock worth $245,000 after buying an additional 78 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in MasTec by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company’s stock worth $2,007,000 after buying an additional 100 shares during the last quarter. Securian Asset Management Inc. lifted its position in MasTec by 2.2% in the first quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock worth $551,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in MasTec by 16.3% in the first quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock worth $87,000 after buying an additional 104 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in MasTec by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock worth $1,883,000 after buying an additional 105 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the sale, the chief operating officer owned 194,249 shares in the company, valued at approximately $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Cardenas Alberto De sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the sale, the executive vice president owned 101,349 shares in the company, valued at $18,312,750.81. The trade was a 8.98% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp raised their price target on MasTec from $196.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Barclays reiterated an “overweight” rating and set a $200.00 target price (up from $145.00) on shares of MasTec in a research report on Monday, July 21st. Truist Financial set a $209.00 target price on MasTec in a research report on Monday, August 4th. DA Davidson set a $210.00 target price on MasTec and gave the stock a “buy” rating in a research report on Monday, August 4th. Finally, Robert W. Baird upgraded MasTec from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Monday, August 4th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of “Buy” and an average target price of $195.12.

MasTec Stock Performance

Shares of MasTec stock opened at $178.08 on Friday. The company has a market capitalization of $14.05 billion, a PE ratio of 52.69 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The company has a 50-day simple moving average of $173.36 and a two-hundred day simple moving average of $146.74. MasTec, Inc. has a one year low of $96.01 and a one year high of $194.00.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. Research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.