Avior Wealth Management LLC Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

Avior Wealth Management LLC cut its position in MasTec, Inc. (NYSE:MTZ) by 40.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421 shares of the construction company’s stock after selling 281 shares during the quarter. Avior Wealth Management LLC’s holdings in MasTec were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new stake in MasTec in the 2nd quarter worth approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in MasTec in the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its stake in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after buying an additional 138 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 19,023 shares of the firm’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 approximately $26,746,507.26. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 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 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 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 Monday. The firm has a market cap of $11.26 billion, a PE ratio of 126.92 and a beta of 1.70. MasTec, Inc. has a 12-month low of $54.06 and a 12-month high of $147.23. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company’s fifty day simple moving average is $129.00 and its two-hundred day simple moving average is $115.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTZ. JPMorgan Chase & Co. began coverage on shares of MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. UBS Group increased their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. 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 report on Tuesday, November 5th. Finally, B. Riley reissued a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.