Migdal Insurance & Financial Holdings Ltd. Lowers Position in MasTec, Inc. (NYSE:MTZ)

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 55.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 570 shares of the construction company’s stock after selling 715 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in MasTec were worth $43,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in shares of MasTec by 152.4% during the third quarter. CWM LLC now owns 525 shares of the construction company’s stock valued at $38,000 after buying an additional 317 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of MasTec by 75.3% in the third quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock valued at $39,000 after purchasing an additional 232 shares during the period. Headlands Technologies LLC purchased a new stake in shares of MasTec in the third quarter valued at approximately $41,000. Itau Unibanco Holding S.A. purchased a new stake in shares of MasTec in the third quarter valued at approximately $43,000. Finally, Covestor Ltd boosted its holdings in shares of MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after purchasing an additional 145 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of MTZ stock opened at $83.40 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The business’s fifty day simple moving average is $84.19 and its 200-day simple moving average is $71.39. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $123.33. The company has a market cap of $6.63 billion, a PE ratio of -126.36 and a beta of 1.62.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Analysts expect that MasTec, Inc. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of MasTec in a report on Monday, March 4th. Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $96.00 in a report on Monday, March 4th. KeyCorp boosted their price target on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Barclays boosted their price target on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, UBS Group upped their target price on MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.46.

About MasTec

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.