Intrust Bank NA Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

Intrust Bank NA lessened its stake in MasTec, Inc. (NYSE:MTZ) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 3,676 shares of the construction company’s stock after selling 344 shares during the quarter. Intrust Bank NA’s holdings in MasTec were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares in the last quarter. Geode Capital Management LLC raised its position in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after acquiring an additional 16,844 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after acquiring an additional 114,502 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of MasTec by 52.4% in the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company’s stock valued at $55,162,000 after purchasing an additional 139,235 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of recent analyst reports. B. Riley reiterated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Guggenheim reiterated a “buy” rating and set a $195.00 target price on shares of MasTec in a research report on Tuesday, March 25th. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird decreased their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Truist Financial boosted their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

Insider Buying and Selling

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

MasTec Price Performance

NYSE:MTZ opened at $115.22 on Friday. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. The stock has a market cap of $9.14 billion, a PE ratio of 102.87 and a beta of 1.74. 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 50 day moving average price of $132.73 and a 200 day moving average price of $133.45.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 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 business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. Equities research analysts expect that MasTec, Inc. will post 3.44 EPS 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.