American Trust Decreases Position in MasTec, Inc. (NYSE:MTZ)

American Trust trimmed its holdings in MasTec, Inc. (NYSE:MTZ) by 12.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,982 shares of the construction company’s stock after selling 732 shares during the quarter. American Trust’s holdings in MasTec were worth $465,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of MasTec during the 4th quarter worth approximately $37,000. Bessemer Group Inc. increased its holdings in shares of MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after buying an additional 598 shares during the last quarter. CWM LLC increased its holdings in shares of MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after buying an additional 312 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after buying an additional 212 shares during the last quarter. Finally, Neo Ivy Capital Management increased its holdings in shares of MasTec by 891.9% during the 4th quarter. Neo Ivy Capital Management now owns 1,349 shares of the construction company’s stock worth $102,000 after buying an additional 1,213 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MasTec

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

MasTec Stock Down 3.7 %

Shares of MasTec stock traded down $3.94 during trading on Friday, hitting $102.18. 2,005,031 shares of the stock were exchanged, compared to its average volume of 882,374. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of -729.86 and a beta of 1.65. The firm’s 50-day moving average price is $107.24 and its 200 day moving average price is $92.82. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $123.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.33. MasTec had a net margin of 0.06% and a return on equity of 6.44%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. As a group, analysts forecast that MasTec, Inc. will post 2.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MTZ shares. Barclays lifted their target price on shares of MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, May 6th. KeyCorp lifted their target price on shares of MasTec from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, May 13th. The Goldman Sachs Group boosted their price target on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. B. Riley restated a “buy” rating and issued a $132.00 price target on shares of MasTec in a research note on Thursday, June 27th. Finally, Citigroup boosted their price target on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.62.

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.