VitalStone Financial LLC Sells 1,000 Shares of MasTec, Inc. (NYSE:MTZ)

VitalStone Financial LLC lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 48.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,080 shares of the construction company’s stock after selling 1,000 shares during the period. VitalStone Financial LLC’s holdings in MasTec were worth $116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTZ. Point72 Asset Management L.P. increased its holdings in shares of MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after purchasing an additional 502,039 shares in the last quarter. Pinebridge Investments L.P. increased its stake in shares of MasTec by 25.6% in the 4th quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after buying an additional 21,564 shares during the period. 1492 Capital Management LLC bought a new stake in shares of MasTec during the fourth quarter worth $1,059,000. The Manufacturers Life Insurance Company lifted its stake in shares of MasTec by 5.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock valued at $25,975,000 after acquiring an additional 18,402 shares during the period. Finally, FACT Capital LP boosted its holdings in MasTec by 20.7% in the fourth quarter. FACT Capital LP now owns 101,929 shares of the construction company’s stock valued at $7,718,000 after acquiring an additional 17,511 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

MTZ stock opened at $107.58 on Thursday. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $113.69. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a market cap of $8.55 billion, a PE ratio of -768.43 and a beta of 1.70. The business’s 50-day moving average price is $106.58 and its two-hundred day moving average price is $100.59.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the business posted $0.81 EPS. MasTec’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts forecast that MasTec, Inc. will post 2.71 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MTZ. The Goldman Sachs Group boosted their price objective on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Stifel Nicolaus increased their price objective on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup raised their price objective on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. B. Riley upped their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Truist Financial restated a “hold” rating and issued a $112.00 price target (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $117.50.

MasTec Company 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.