First Washington CORP Sells 7,316 Shares of MasTec, Inc. (NYSE:MTZ)

First Washington CORP cut its holdings in MasTec, Inc. (NYSE:MTZ) by 13.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,680 shares of the construction company’s stock after selling 7,316 shares during the period. MasTec comprises approximately 2.3% of First Washington CORP’s holdings, making the stock its 10th biggest position. First Washington CORP’s holdings in MasTec were worth $6,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in MasTec in the third quarter worth about $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 116 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after purchasing an additional 128 shares during the period. Finally, Global Retirement Partners LLC grew its stake in MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after buying an additional 190 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the 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 completion of the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. This represents 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 at this link. Company insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTZ shares. Truist Financial cut their target price on MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Piper Sandler initiated coverage on MasTec in a report on Tuesday, April 8th. They set an “overweight” rating and a $134.00 price target on the stock. Citigroup increased their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Barclays lifted their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

MasTec Price Performance

NYSE MTZ opened at $115.97 on Friday. MasTec, Inc. has a 1 year low of $83.04 and a 1 year high of $166.95. The business’s fifty day moving average is $122.63 and its two-hundred day moving average is $132.79. The stock has a market capitalization of $9.17 billion, a P/E ratio of 103.55 and a beta of 1.62. 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 (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.