Private Advisor Group LLC Sells 194 Shares of MasTec, Inc. (NYSE:MTZ)

Private Advisor Group LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 4.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,762 shares of the construction company’s stock after selling 194 shares during the quarter. Private Advisor Group LLC’s holdings in MasTec were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. bought a new stake in shares of MasTec during the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec during the 3rd quarter valued at approximately $25,000. Global Retirement Partners LLC grew its holdings in shares of MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares during the last quarter. R Squared Ltd bought a new stake in shares of MasTec during the 4th quarter valued at approximately $44,000. Finally, True Wealth Design LLC bought a new stake in shares of MasTec during the 3rd quarter valued at approximately $57,000. 78.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target 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 lifted their target price 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. Guggenheim began coverage on shares of MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. Robert W. Baird cut their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.07.

MasTec Stock Performance

Shares of MTZ stock opened at $127.56 on Tuesday. The firm has a market capitalization of $10.11 billion, a PE ratio of 113.89 and a beta of 1.73. The firm has a fifty day simple moving average of $141.60 and a two-hundred day simple moving average of $131.76. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last posted 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 during the quarter, compared to analyst estimates of $3.32 billion. Analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.