US Bancorp DE Sells 560 Shares of MasTec, Inc. (NYSE:MTZ)

US Bancorp DE lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,154 shares of the construction company’s stock after selling 560 shares during the period. US Bancorp DE’s holdings in MasTec were worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Planning grew its holdings in shares of MasTec by 9.5% in the third quarter. Creative Planning now owns 2,909 shares of the construction company’s stock valued at $358,000 after purchasing an additional 253 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of MasTec by 7.4% in the third quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company’s stock valued at $863,000 after purchasing an additional 485 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 100 shares in the last quarter. Forum Financial Management LP purchased a new position in shares of MasTec in the third quarter valued at $201,000. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of MasTec in the third quarter valued at $1,024,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 3.3 %

Shares of MTZ opened at $128.03 on Thursday. The firm has a market capitalization of $10.14 billion, a P/E ratio of 114.31 and a beta of 1.73. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average price of $141.10 and a 200-day moving average price of $131.97.

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

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of recent research reports. KeyCorp raised their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Barclays raised their target price on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. raised 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 assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.14.

MasTec 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.