MasTec, Inc. (MTZ) Shares Sold by Sei Investments Co.

MasTec, Inc. (MTZ) Shares Sold by Sei Investments Co.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its position in MasTec by 3.4% in the fourth quarter. State Street Corp now owns 1,199,265 shares of the construction company’s stock valued at $45,875,000 after buying an additional 39,991 shares during the period. Allianz Asset Management AG raised its position in MasTec by 3.5% in the fourth quarter. Allianz Asset Management AG now owns 703,453 shares of the construction company’s stock valued at $26,907,000 after buying an additional 23,779 shares during the period. Norges Bank acquired a new position in MasTec during the fourth quarter valued at approximately $26,156,000. Wells Fargo & Company MN raised its position in MasTec by 68.8% in the first quarter. Wells Fargo & Company MN now owns 677,636 shares of the construction company’s stock valued at $27,139,000 after buying an additional 276,255 shares during the period. Finally, FMR LLC acquired a new position in MasTec during the fourth quarter valued at approximately $20,566,000. 68.50% of the stock is owned by institutional investors and hedge funds.

Sei Investments Co. reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,488 shares of the construction company’s stock after selling 1,324 shares during the period. Sei Investments Co.’s holdings in MasTec were worth $4,545,000 as of its most recent filing with the SEC.

Shares of MasTec, Inc. (NYSE MTZ) opened at 41.10 on Tuesday. The firm’s 50 day moving average is $42.97 and its 200-day moving average is $39.19. MasTec, Inc. has a 52-week low of $20.86 and a 52-week high of $47.90. The company has a market capitalization of $3.32 billion, a P/E ratio of 19.29 and a beta of 1.36.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.08. MasTec had a net margin of 0.02% and a return on equity of 10.76%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts anticipate that MasTec, Inc. will post $2.46 earnings per share for the current fiscal year.

MTZ has been the subject of several research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price target on shares of MasTec in a report on Monday, May 15th. Vetr raised shares of MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 price target for the company in a report on Thursday, May 25th. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 26th. FBR & Co reaffirmed an “outperform” rating and issued a $57.00 price target (up from $50.00) on shares of MasTec in a report on Monday, May 8th. Finally, TheStreet upgraded shares of MasTec from a “c+” rating to a “b-” rating in a research report on Friday, February 24th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $42.26.

In other MasTec news, COO Robert E. Apple sold 25,000 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $45.06, for a total transaction of $1,126,500.00. Following the sale, the chief operating officer now owns 227,816 shares of the company’s stock, valued at approximately $10,265,388.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.40% of the stock is owned by corporate insiders.

MasTec Company Profile

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MTZ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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