MasTec, Inc. (NYSE:MTZ) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,068 shares of the construction company’s stock after selling 8,342 shares during the quarter. Sei Investments Co. owned approximately 0.10% of MasTec worth $11,309,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MTZ. Allworth Financial LP grew its holdings in 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 holdings in MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after buying an additional 89 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in MasTec by 2.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after buying an additional 94 shares during the last quarter. Fielder Capital Group LLC boosted its position in shares of MasTec by 6.1% during the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock worth $247,000 after acquiring an additional 105 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after acquiring an additional 113 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Down 3.0 %

Shares of MasTec stock opened at $115.22 on Friday. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. The company has a market cap of $9.14 billion, a P/E ratio of 102.87 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a fifty day moving average of $132.73 and a two-hundred day moving average of $133.45.

MasTec (NYSE:MTZ) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $3.32 billion. On average, analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Activity at MasTec

In other MasTec 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 value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MTZ. Truist Financial upped their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped 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. Guggenheim reiterated a “buy” rating and set a $195.00 price target on shares of MasTec in a research note on Tuesday, March 25th. Stifel Nicolaus dropped their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MasTec currently 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.