US Bancorp DE Decreases Position in MasTec, Inc. (NYSE:MTZ)

US Bancorp DE lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 22.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,714 shares of the construction company’s stock after selling 8,829 shares during the period. US Bancorp DE’s holdings in MasTec were worth $3,781,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MTZ. BNP Paribas Financial Markets increased its stake in shares of MasTec by 156.6% during the 1st quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company’s stock worth $1,805,000 after purchasing an additional 11,816 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in MasTec in the 1st quarter valued at approximately $463,000. Jennison Associates LLC purchased a new position in MasTec in the 1st quarter valued at approximately $231,000. Texas Permanent School Fund Corp grew its stake in MasTec by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock valued at $4,924,000 after buying an additional 817 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP purchased a new position in MasTec in the 1st quarter valued at approximately $843,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

NYSE MTZ opened at $132.61 on Tuesday. MasTec, Inc. has a 52-week low of $46.70 and a 52-week high of $138.87. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The company has a market capitalization of $10.51 billion, a P/E ratio of 118.40 and a beta of 1.70. The company has a fifty day moving average of $119.20 and a 200-day moving average of $110.03.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MTZ shares. Truist Financial lifted their price objective on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. started coverage on shares of MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. B. Riley raised their price target on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, KeyCorp raised their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.08.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,800 shares of company stock valued at $2,978,212. Insiders own 21.30% of the company’s stock.

MasTec 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.