Royce & Associates LP Sells 5,979 Shares of MasTec, Inc. (NYSE:MTZ)

Royce & Associates LP cut its position in MasTec, Inc. (NYSE:MTZ) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,980 shares of the construction company’s stock after selling 5,979 shares during the period. Royce & Associates LP owned 0.10% of MasTec worth $10,752,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after acquiring an additional 895,227 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after purchasing an additional 289,090 shares during the period. Point72 Asset Management L.P. boosted its position in shares of MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares during the period. Barclays PLC increased its holdings in shares of MasTec by 642.7% in the third quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after purchasing an additional 209,472 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of MasTec in the 4th quarter valued at about $17,776,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on MTZ shares. JPMorgan Chase & Co. boosted their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. KeyCorp lifted their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. Barclays boosted their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Truist Financial lifted their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.14.

MasTec Price Performance

Shares of MTZ stock opened at $124.04 on Tuesday. The firm’s 50-day moving average is $137.28 and its two-hundred day moving average is $132.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $9.84 billion, a PE ratio of 110.75 and a beta of 1.74. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95.

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

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.