WESCAP Management Group Inc. Sells 349 Shares of MasTec, Inc. (NYSE:MTZ)

WESCAP Management Group Inc. decreased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 11.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,664 shares of the construction company’s stock after selling 349 shares during the quarter. WESCAP Management Group Inc.’s holdings in MasTec were worth $202,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. CWM LLC boosted its stake in MasTec by 152.4% during the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after acquiring an additional 317 shares during the last quarter. Raymond James & Associates lifted its position in MasTec by 2.3% during the third quarter. Raymond James & Associates now owns 86,771 shares of the construction company’s stock worth $6,245,000 after purchasing an additional 1,912 shares during the period. Bank of New York Mellon Corp grew its position in MasTec by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 537,773 shares of the construction company’s stock valued at $38,704,000 after acquiring an additional 5,059 shares during the last quarter. Castleview Partners LLC lifted its stake in MasTec by 1,250.0% in the 3rd quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock valued at $97,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Strs Ohio increased its position in MasTec by 30.1% in the 3rd quarter. Strs Ohio now owns 17,859 shares of the construction company’s stock valued at $1,285,000 after acquiring an additional 4,137 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on MTZ shares. Barclays boosted their price objective on MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. UBS Group increased their price objective on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird increased their price objective on MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Citigroup raised their price objective on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, TD Cowen upped their price target on MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.85.

MasTec Price Performance

Shares of NYSE:MTZ traded up $10.80 during trading on Friday, reaching $101.80. 2,348,086 shares of the company’s stock traded hands, compared to its average volume of 725,942. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. MasTec, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The firm has a market cap of $8.09 billion, a PE ratio of -727.14 and a beta of 1.61. The company has a 50-day simple moving average of $87.95 and a 200-day simple moving average of $73.05.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.18%. As a group, analysts predict that MasTec, Inc. will post 2.33 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.