Swiss National Bank Sells 600 Shares of MasTec, Inc. (NYSE:MTZ)

Swiss National Bank lowered its position in shares of MasTec, Inc. (NYSE:MTZ) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 124,200 shares of the construction company’s stock after selling 600 shares during the quarter. Swiss National Bank’s holdings in MasTec were worth $15,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of MasTec by 15,067.0% in the 2nd 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 grew its position in shares of 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 buying an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in shares of MasTec in the 2nd quarter valued at about $79,494,000. Marshall Wace LLP grew its position in shares of MasTec by 4.3% in the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after buying an additional 29,631 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of MasTec by 6.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after buying an additional 31,266 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. UBS Group upped their price target 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 boosted their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird boosted their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Citigroup boosted their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was 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 approximately $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by company insiders.

MasTec Stock Up 0.1 %

MTZ stock opened at $142.15 on Friday. The stock’s 50 day simple moving average is $128.40 and its 200 day simple moving average is $114.75. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $147.23. 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 company has a market cap of $11.26 billion, a P/E ratio of 126.92 and a beta of 1.70.

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.