Decade Renewable Partners LP Reduces Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Decade Renewable Partners LP cut its stake in MasTec, Inc. (NYSE:MTZ) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,335 shares of the construction company’s stock after selling 4,370 shares during the period. MasTec makes up approximately 4.7% of Decade Renewable Partners LP’s holdings, making the stock its 8th biggest position. Decade Renewable Partners LP’s holdings in MasTec were worth $9,575,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MasTec in the 4th quarter valued at $59,910,000. First Trust Advisors LP grew its stake in MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after buying an additional 373,145 shares during the last quarter. Barclays PLC increased its holdings in shares of MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after buying an additional 209,472 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of MasTec in the fourth quarter valued at approximately $23,542,000. Finally, Cartenna Capital LP acquired a new position in shares of MasTec in the 4th quarter worth approximately $23,442,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 21.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MTZ. Guggenheim restated a “buy” rating and issued a $195.00 target price on shares of MasTec in a research note on Tuesday, March 25th. Truist Financial reduced their price objective on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Citigroup decreased their target price on MasTec from $167.00 to $152.00 and set a “buy” rating for the company in a research note on Friday. Finally, 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. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.00.

MasTec Stock Up 1.8 %

Shares of MTZ opened at $125.09 on Monday. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 111.69 and a beta of 1.62. MasTec, Inc. has a 52 week low of $86.12 and a 52 week high of $166.95. 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 stock has a fifty day moving average of $120.35 and a 200-day moving average of $132.52.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.