MasTec, Inc. (NYSE:MTZ) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of MasTec, Inc. (NYSE:MTZ) by 39.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,720 shares of the construction company’s stock after selling 5,055 shares during the quarter. Intech Investment Management LLC’s holdings in MasTec were worth $950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTZ. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $40,000. UMB Bank n.a. raised its position in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. raised its position in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of research reports. Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and increased their price target for the stock from $133.00 to $173.00 in a research report on Tuesday, November 5th. UBS Group increased their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group increased their price objective on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Craig Hallum increased their price objective on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Stock Performance

Shares of NYSE MTZ opened at $144.55 on Friday. The stock has a fifty day moving average price of $130.77 and a two-hundred day moving average price of $115.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market cap of $11.45 billion, a P/E ratio of 129.05 and a beta of 1.70. MasTec, Inc. has a 1 year low of $54.06 and a 1 year high of $150.12.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by corporate insiders.

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.