Pitcairn Co. Trims Holdings in MasTec, Inc. (NYSE:MTZ)

Pitcairn Co. lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 24.5% in the third quarter, HoldingsChannel.com reports. The firm owned 1,661 shares of the construction company’s stock after selling 538 shares during the period. Pitcairn Co.’s holdings in MasTec were worth $204,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in shares of MasTec by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares in the last quarter. New York State Teachers Retirement System lifted its stake in MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after acquiring an additional 100 shares in the last quarter. Victory Capital Management Inc. boosted its holdings 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 during the period. UMB Bank n.a. grew its position in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,823 shares of company stock worth $5,558,301. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several analyst reports. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Craig Hallum boosted their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, TD Cowen raised their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Stock Down 2.3 %

Shares of NYSE MTZ opened at $144.54 on Thursday. The business has a 50-day moving average price of $130.22 and a 200 day moving average price of $115.68. The stock has a market cap of $11.45 billion, a PE ratio of 129.05 and a beta of 1.70. 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 52-week low of $54.06 and a 52-week high of $150.12.

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.