Quantbot Technologies LP Takes $405,000 Position in MasTec, Inc. (NYSE:MTZ)

Quantbot Technologies LP acquired a new position in MasTec, Inc. (NYSE:MTZ) during the third quarter, Holdings Channel.com reports. The firm acquired 3,294 shares of the construction company’s stock, valued at approximately $405,000.

A number of other institutional investors have also modified their holdings of the stock. Hobbs Group Advisors LLC purchased a new position in MasTec during the second quarter valued at approximately $27,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec during the 2nd quarter valued at about $40,000. UMB Bank n.a. increased its stake in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in MasTec by 32.6% in 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. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MTZ. Truist Financial raised MasTec from a “hold” rating to a “buy” rating and increased their target price for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. UBS Group upped their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley reissued a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Robert W. Baird raised their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus upped their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,823 shares of company stock valued at $7,493,301 in the last ninety days. 21.30% of the stock is currently owned by company insiders.

MasTec Trading Up 0.9 %

MTZ opened at $143.37 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $60.96 and a 52 week high of $150.12. The business’s 50 day moving average is $132.25 and its two-hundred day moving average is $116.98. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 128.01 and a beta of 1.72.

MasTec Company 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.