New York Life Investment Management LLC Trims Stake in MasTec, Inc. (NYSE:MTZ)

New York Life Investment Management LLC trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,721 shares of the construction company’s stock after selling 554 shares during the quarter. New York Life Investment Management LLC’s holdings in MasTec were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new stake in MasTec during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in MasTec during the third quarter worth about $25,000. Global Retirement Partners LLC lifted its stake in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares during the last quarter. R Squared Ltd bought a new stake in MasTec during the fourth quarter worth about $44,000. Finally, True Wealth Design LLC bought a new stake in MasTec during the third quarter worth about $57,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 2.3 %

Shares of NYSE:MTZ opened at $127.56 on Tuesday. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95. The company has a market cap of $10.11 billion, a PE ratio of 113.89 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The stock’s 50-day moving average is $141.60 and its 200 day moving average is $131.76.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

MTZ has been the subject of several research analyst reports. Craig Hallum lifted their price target on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup lifted their price target on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus lowered their target price on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday. Guggenheim assumed coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. Finally, Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $159.07.

About MasTec

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.