Community Trust & Investment Co. Reduces Stock Position in MasTec, Inc. (NYSE:MTZ)


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Community Trust & Investment Co. decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 48.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,601 shares of the construction company’s stock after selling 94,596 shares during the quarter. Community Trust & Investment Co. owned about 0.14% of MasTec worth $9,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MTZ. Morgan Stanley boosted its position in shares of MasTec by 231.0% during the 3rd quarter. Morgan Stanley now owns 455,084 shares of the construction company’s stock valued at $19,204,000 after acquiring an additional 317,592 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of MasTec by 849.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 66,682 shares of the construction company’s stock worth $2,814,000 after acquiring an additional 59,661 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in MasTec during the third quarter worth about $789,000. California State Teachers Retirement System increased its holdings in shares of MasTec by 0.4% during the third quarter. California State Teachers Retirement System now owns 85,831 shares of the construction company’s stock valued at $3,622,000 after acquiring an additional 343 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of MasTec in the 3rd quarter worth about $200,000. 82.52% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Cardenas Alberto De sold 19,787 shares of MasTec stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $89.64, for a total transaction of $1,773,706.68. Also, Director Ernst N. Csiszar sold 1,564 shares of the stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $91.01, for a total value of $142,339.64. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $2,275,250. The disclosure for this sale can be found here. Insiders sold 79,879 shares of company stock worth $7,383,126 in the last 90 days. 23.90% of the stock is currently owned by insiders.

NYSE MTZ traded down $1.23 during trading hours on Friday, hitting $98.55. 1,018,821 shares of the stock were exchanged, compared to its average volume of 796,237. The company has a quick ratio of 1.49, a current ratio of 1.54 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $93.28 and a 200 day moving average of $72.02. MasTec, Inc. has a 12-month low of $29.17 and a 12-month high of $101.75. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 23.58 and a beta of 1.38.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 25th. The construction company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.13. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.81 billion. MasTec had a net margin of 4.86% and a return on equity of 18.75%. On average, equities research analysts expect that MasTec, Inc. will post 4.82 earnings per share for the current year.

Several research analysts have recently issued reports on the stock. Credit Suisse Group upped their target price on shares of MasTec from $105.00 to $114.00 and gave the stock an “outperform” rating in a research note on Monday, March 8th. Barclays boosted their price target on shares of MasTec from $75.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, March 8th. Citigroup upped their target price on MasTec from $58.00 to $96.00 in a research note on Tuesday, January 19th. B. Riley boosted their price objective on shares of MasTec from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 7th. They noted that the move was a valuation call. Finally, Craig Hallum upped their price objective on MasTec from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $74.83.

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, Electrical Transmission, and Other.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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