Pathstone Holdings LLC Trims Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Pathstone Holdings LLC lessened its position in shares of MasTec, Inc. (NYSE:MTZ) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,843 shares of the construction company’s stock after selling 2,449 shares during the quarter. Pathstone Holdings LLC’s holdings in MasTec were worth $3,181,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. increased its holdings in MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after buying an additional 598 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of MasTec by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company’s stock worth $4,059,000 after acquiring an additional 1,905 shares during the period. Bayesian Capital Management LP purchased a new position in shares of MasTec during the first quarter worth $2,052,000. Jacobs Levy Equity Management Inc. lifted its position in MasTec by 0.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 103,932 shares of the construction company’s stock valued at $9,692,000 after purchasing an additional 612 shares during the period. Finally, Interval Partners LP purchased a new stake in MasTec in the first quarter valued at $4,230,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,823 shares of company stock valued at $5,558,301 over the last quarter. 21.30% of the stock is currently owned by insiders.

MasTec Stock Up 0.1 %

MTZ opened at $142.15 on Monday. 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 twelve month low of $54.06 and a twelve month high of $147.23. The company has a market cap of $11.26 billion, a PE ratio of 126.92 and a beta of 1.70. The company has a 50-day moving average price of $129.00 and a 200 day moving average price of $115.13.

Analysts Set New Price Targets

MTZ has been the subject of a number of recent research reports. Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and lifted their price objective for the company from $133.00 to $173.00 in a research note on Tuesday, November 5th. UBS Group lifted 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. KeyCorp upped their price objective on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. B. Riley reaffirmed a “buy” rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

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.