Sandy Spring Bank Reduces Position in MasTec, Inc. (NYSE:MTZ)

Sandy Spring Bank cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 18.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 530 shares of the construction company’s stock after selling 120 shares during the quarter. Sandy Spring Bank’s holdings in MasTec were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its holdings in shares of MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares in the last quarter. Atom Investors LP lifted its holdings in shares of MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after buying an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after buying an additional 13,241 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 2.1 %

Shares of MasTec stock opened at $123.89 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 stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 110.61 and a beta of 1.74. The company’s 50 day moving average price is $135.56 and its 200-day moving average price is $132.67.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Equities research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

MTZ has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. KeyCorp upped their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. B. Riley restated a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Guggenheim initiated coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

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.