Thompson Investment Management Inc. Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Thompson Investment Management Inc. lowered its position in MasTec, Inc. (NYSE:MTZFree Report) by 6.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,590 shares of the construction company’s stock after selling 500 shares during the period. Thompson Investment Management Inc.’s holdings in MasTec were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTZ. Vanguard Group Inc. raised its holdings in shares of MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after acquiring an additional 33,592 shares during the period. Nordea Investment Management AB increased its position in shares of MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after purchasing an additional 1,027,085 shares during the last quarter. Electron Capital Partners LLC increased its position in shares of MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of MasTec by 42.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after purchasing an additional 312,991 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of MasTec by 16.2% during the 4th quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock worth $78,454,000 after purchasing an additional 144,180 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of NYSE:MTZ traded up $1.61 during midday trading on Tuesday, hitting $109.81. 661,310 shares of the stock were exchanged, compared to its average volume of 878,062. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a 50 day moving average price of $102.87 and a 200-day moving average price of $86.33.

MasTec (NYSE:MTZGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.33. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. As a group, equities analysts expect that MasTec, Inc. will post 2.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTZ. DA Davidson raised their price objective on MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. TD Cowen raised their price objective on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Barclays raised their price objective on MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Robert W. Baird upped their target price on shares of MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, Truist Financial reaffirmed a “hold” rating and set a $109.00 price target (up from $96.00) on shares of MasTec in a report on Monday, May 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.23.

Get Our Latest Research Report on MTZ

Insider Buying and Selling at MasTec

In other news, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now directly owns 10,666 shares of the company’s stock, valued at approximately $1,137,742.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the sale, the director now directly owns 50,725 shares in the company, valued at approximately $5,579,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Javier Alberto Palomarez sold 2,850 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the transaction, the director now directly owns 10,666 shares of the company’s stock, valued at approximately $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

MasTec Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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