MasTec, Inc. (NYSE:MTZ) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its holdings in MasTec, Inc. (NYSE:MTZ) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,952,033 shares of the construction company’s stock after selling 33,725 shares during the period. Nordea Investment Management AB’s holdings in MasTec were worth $265,359,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. purchased a new position in shares of MasTec during the 2nd quarter worth approximately $79,494,000. Hood River Capital Management LLC increased its holdings in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in MasTec by 266.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after purchasing an additional 289,090 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MTZ. The Goldman Sachs Group boosted their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup boosted their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen raised their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. UBS Group upped their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.23.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $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. Over the last quarter, insiders have sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is owned by corporate insiders.

MasTec Price Performance

Shares of NYSE MTZ opened at $146.69 on Monday. The stock’s 50-day simple moving average is $137.86 and its 200-day simple moving average is $121.42. The firm has a market capitalization of $11.62 billion, a PE ratio of 130.97 and a beta of 1.74. MasTec, Inc. has a fifty-two week low of $60.96 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

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.