CIBC Asset Management Inc Has $281,000 Holdings in MasTec, Inc. (NYSE:MTZ)

CIBC Asset Management Inc boosted its position in shares of MasTec, Inc. (NYSE:MTZ) by 3.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,280 shares of the construction company’s stock after buying an additional 82 shares during the quarter. CIBC Asset Management Inc’s holdings in MasTec were worth $281,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sycomore Asset Management grew its holdings in shares of MasTec by 8.8% during the third quarter. Sycomore Asset Management now owns 22,437 shares of the construction company’s stock valued at $2,754,000 after buying an additional 1,817 shares in the last quarter. Victory Capital Management Inc. grew its stake in MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after acquiring an additional 101 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of MasTec in the 3rd quarter valued at about $549,000. Lisanti Capital Growth LLC lifted its position in shares of MasTec by 31.4% in the third quarter. Lisanti Capital Growth LLC now owns 43,090 shares of the construction company’s stock worth $5,304,000 after purchasing an additional 10,305 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of MasTec in the third quarter worth approximately $3,195,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction 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 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. Insiders sold a total of 42,823 shares of company stock valued at $5,558,301 in the last quarter. Insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of MasTec stock opened at $142.15 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $128.40 and a 200-day simple moving average of $114.75. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 126.92 and a beta of 1.70. MasTec, Inc. has a 1-year low of $54.06 and a 1-year high of $147.23.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several research reports. TD Cowen upped 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. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and lifted their price target for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. 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, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

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.