UBS Group AG Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

Posted by on Mar 2nd, 2023

UBS Group AG cut its holdings in MasTec, Inc. (NYSE:MTZ – Get Rating) by 44.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,671 shares of the construction company’s stock after selling 55,659 shares during the period. UBS Group AG owned 0.09% of MasTec worth $4,488,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MasTec by 443.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,750 shares of the construction company’s stock worth $5,509,000 after acquiring an additional 70,801 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of MasTec by 3.8% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 302,162 shares of the construction company’s stock worth $19,187,000 after acquiring an additional 11,170 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of MasTec by 24.8% during the 3rd quarter. California Public Employees Retirement System now owns 138,177 shares of the construction company’s stock worth $8,774,000 after acquiring an additional 27,445 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of MasTec by 2.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 44,374 shares of the construction company’s stock worth $2,818,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Bridge City Capital LLC raised its holdings in shares of MasTec by 3.5% during the 3rd quarter. Bridge City Capital LLC now owns 29,464 shares of the construction company’s stock worth $1,871,000 after acquiring an additional 1,003 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cowen cut their price objective on MasTec from $125.00 to $120.00 in a research report on Tuesday, December 27th. Craig Hallum downgraded MasTec from a “buy” rating to a “hold” rating and set a $97.00 price target on the stock. in a research report on Monday. Cowen decreased their price objective on MasTec from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, December 27th. B. Riley upped their price objective on MasTec from $112.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird upped their price objective on MasTec from $111.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.00.

MasTec Trading Up 3.5 %

Shares of NYSE MTZ opened at $101.11 on Thursday. MasTec, Inc. has a twelve month low of $62.36 and a twelve month high of $102.58. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $94.01 and a 200-day simple moving average of $85.50. The stock has a market capitalization of $7.95 billion, a PE ratio of 240.74 and a beta of 1.40.

MasTec 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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