Net Worth Advisory Group Reduces Stock Position in MasTec, Inc. (NYSE:MTZ)

Net Worth Advisory Group trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 45.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,833 shares of the construction company’s stock after selling 1,548 shares during the quarter. Net Worth Advisory Group’s holdings in MasTec were worth $250,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ameliora Wealth Management Ltd. purchased a new position in MasTec during the fourth quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec in the 3rd quarter worth about $25,000. Smartleaf Asset Management LLC lifted its holdings in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares during the last quarter. Global Retirement Partners LLC boosted its stake 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 worth $42,000 after purchasing an additional 190 shares during the period. Finally, R Squared Ltd bought a new position in MasTec during the 4th quarter valued at about $44,000. Institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ opened at $114.66 on Wednesday. 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 company has a 50 day moving average price of $139.55 and a 200-day moving average price of $132.14. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The stock has a market capitalization of $9.09 billion, a PE ratio of 102.38 and a beta of 1.74.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTZ shares. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial raised their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup upped their price objective on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Barclays boosted their target price on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.14.

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.