Shell Asset Management Co. Sells 1,355 Shares of MasTec, Inc. (NYSE:MTZ)

Posted by on Feb 26th, 2023

Shell Asset Management Co. cut its holdings in MasTec, Inc. (NYSE:MTZ – Get Rating) by 20.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,150 shares of the construction company’s stock after selling 1,355 shares during the quarter. Shell Asset Management Co.’s holdings in MasTec were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MTZ. Ronald Blue Trust Inc. bought a new stake in shares of MasTec in the second quarter worth about $29,000. Wipfli Financial Advisors LLC bought a new stake in MasTec during the 3rd quarter valued at approximately $42,000. Covestor Ltd boosted its position in MasTec by 40.1% during the 1st quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after acquiring an additional 145 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in MasTec during the 1st quarter valued at approximately $52,000. Finally, Lazard Asset Management LLC bought a new stake in MasTec during the 1st quarter valued at approximately $53,000. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

MTZ has been the topic of several research reports. Cowen cut their price objective on MasTec from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 27th. Cowen cut their price objective on MasTec from $125.00 to $120.00 in a research report on Tuesday, December 27th. B. Riley lifted their price objective on MasTec from $90.00 to $112.00 in a research report on Monday, November 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $122.00 price objective on shares of MasTec in a research report on Wednesday, February 15th. Finally, StockNews.com raised MasTec from a “sell” rating to a “hold” rating in a research report on Friday, January 20th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.50.

MasTec Price Performance

MTZ stock opened at $97.18 on Friday. The firm has a 50 day moving average price of $93.25 and a 200-day moving average price of $85.15. MasTec, Inc. has a 52-week low of $62.36 and a 52-week high of $100.44. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 231.39 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.50 and a current ratio of 1.57.

MasTec Company Profile

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MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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