Intrust Bank NA Sells 2,425 Shares of MasTec, Inc. (NYSE:MTZ)

Intrust Bank NA decreased its position in shares of MasTec, Inc. (NYSE:MTZ) by 31.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,313 shares of the construction company’s stock after selling 2,425 shares during the quarter. Intrust Bank NA’s holdings in MasTec were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Systems of Alabama boosted its stake in MasTec by 16.1% during the 4th quarter. Retirement Systems of Alabama now owns 183,689 shares of the construction company’s stock worth $13,909,000 after acquiring an additional 25,534 shares during the last quarter. Bruni J V & Co. Co. boosted its stake in MasTec by 2.2% during the 4th quarter. Bruni J V & Co. Co. now owns 237,975 shares of the construction company’s stock worth $18,019,000 after acquiring an additional 5,189 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in MasTec by 23.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 45,842 shares of the construction company’s stock worth $3,471,000 after buying an additional 8,689 shares during the period. Sycomore Asset Management acquired a new stake in MasTec during the 4th quarter worth approximately $965,000. Finally, Cetera Trust Company N.A acquired a new stake in MasTec during the 4th quarter worth approximately $160,000. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MTZ. Truist Financial began coverage on shares of MasTec in a report on Thursday, March 14th. They set a “hold” rating and a $96.00 target price on the stock. Craig Hallum upgraded shares of MasTec from a “hold” rating to a “buy” rating and raised their target price for the stock from $50.00 to $96.00 in a report on Monday, March 4th. UBS Group raised their target price on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group raised their target price on shares of MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Barclays raised their target price on shares of MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.85.

MasTec Price Performance

NYSE MTZ opened at $88.42 on Thursday. 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 12-month low of $44.65 and a 12-month high of $123.33. The company has a market capitalization of $7.03 billion, a PE ratio of -133.97 and a beta of 1.62. The firm’s 50 day moving average is $86.96 and its 200-day moving average is $72.64.

MasTec (NYSE:MTZ) last issued 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 the consensus estimate of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. Equities research analysts anticipate that MasTec, Inc. will post 2.33 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.