State of Alaska Department of Revenue Has $863,000 Stock Position in MasTec, Inc. (NYSE:MTZ)

State of Alaska Department of Revenue boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,013 shares of the construction company’s stock after purchasing an additional 485 shares during the quarter. State of Alaska Department of Revenue’s holdings in MasTec were worth $863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in shares of MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC raised 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 acquiring an additional 446,762 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of MasTec in the 2nd quarter worth approximately $79,494,000. Marshall Wace LLP increased its position in shares of MasTec by 4.3% during the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after purchasing an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of MasTec by 6.3% in the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after purchasing an additional 31,266 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $136.65 on Wednesday. The business has a fifty day moving average of $120.16 and a 200-day moving average of $110.75. 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, Inc. has a twelve month low of $46.70 and a twelve month high of $139.39. The firm has a market cap of $10.83 billion, a PE ratio of 122.01 and a beta of 1.70.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup lifted 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. Stifel Nicolaus lifted 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. Truist Financial raised shares of 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. UBS Group lifted 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. Finally, TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 197,202 shares in the company, valued at approximately $26,746,507.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock worth $5,558,301 over the last 90 days. Insiders own 21.30% of the company’s stock.

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.