Tower Research Capital LLC TRC Sells 2,295 Shares of MasTec, Inc. (NYSE:MTZ)

Tower Research Capital LLC TRC lessened its position in shares of MasTec, Inc. (NYSE:MTZ) by 35.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,223 shares of the construction company’s stock after selling 2,295 shares during the quarter. Tower Research Capital LLC TRC’s holdings in MasTec were worth $575,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after acquiring an additional 78 shares in the last quarter. Arizona State Retirement System increased its stake in MasTec by 0.5% during the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after purchasing an additional 89 shares in the last quarter. Fielder Capital Group LLC increased its stake in MasTec by 6.1% during the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock valued at $247,000 after purchasing an additional 105 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in MasTec by 0.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock valued at $1,883,000 after purchasing an additional 105 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

NYSE:MTZ opened at $126.22 on Tuesday. MasTec, Inc. has a 12 month low of $86.12 and a 12 month high of $166.95. The stock has a 50 day moving average of $120.17 and a two-hundred day moving average of $132.51. 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 has a market cap of $9.98 billion, a P/E ratio of 112.70 and a beta of 1.62.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on MTZ. KeyCorp cut their price target on shares of MasTec from $168.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Citigroup cut their price target on shares of MasTec from $167.00 to $152.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Truist Financial dropped their price objective on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, B. Riley reaffirmed a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction that occurred 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 directly 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.

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.