Sterling Capital Management LLC Sells 951 Shares of MasTec, Inc. (NYSE:MTZ)

Sterling Capital Management LLC cut its stake in MasTec, Inc. (NYSE:MTZ) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,545 shares of the construction company’s stock after selling 951 shares during the period. Sterling Capital Management LLC owned approximately 0.08% of MasTec worth $9,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its position in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after acquiring an additional 116 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in MasTec during the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC grew its stake in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

MTZ opened at $115.14 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The firm has a market cap of $9.13 billion, a P/E ratio of 102.80 and a beta of 1.62. The business’s fifty day moving average is $125.14 and its 200-day moving average is $133.06.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Sell-side analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. B. Riley reaffirmed a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Piper Sandler started coverage on shares of MasTec in a research note on Tuesday. They issued an “overweight” rating and a $134.00 price target for the company. JPMorgan Chase & Co. raised their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Guggenheim reiterated a “buy” rating and issued a $195.00 price objective on shares of MasTec in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.87.

Insiders Place Their Bets

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 21.30% of the company’s stock.

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.