MasTec, Inc. (NYSE:MTZ) Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 20.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,983 shares of the construction company’s stock after selling 1,022 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in MasTec were worth $542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after purchasing an additional 895,227 shares during the last quarter. State Street Corp grew its position in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Geode Capital Management LLC grew its position in MasTec by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares during the last quarter. Point72 Asset Management L.P. grew its position in MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

Shares of MTZ opened at $108.45 on Tuesday. 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 stock has a market cap of $8.60 billion, a P/E ratio of 96.83 and a beta of 1.74. The company has a 50-day moving average of $140.09 and a two-hundred day moving average of $132.15. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (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 net margin of 0.73% and a return on equity of 8.27%. As a group, research analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MTZ. Truist Financial lifted their target price on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays lifted their target price on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Guggenheim began coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, KeyCorp lifted their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.14.

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.