MasTec, Inc. (NYSE:MTZ) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,511 shares of the construction company’s stock after purchasing an additional 312 shares during the period. HighTower Advisors LLC’s holdings in MasTec were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after buying an additional 895,227 shares during the period. Hood River Capital Management LLC lifted its holdings in MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of MasTec in the 2nd quarter worth approximately $79,494,000. Marshall Wace LLP increased its holdings 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 acquiring an additional 29,631 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after acquiring an additional 7,469 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 19,023 shares of the firm’s 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 owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,823 shares of company stock valued at $4,619,121. Insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of NYSE MTZ opened at $136.56 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12. The business’s 50-day moving average price is $135.24 and its two-hundred day moving average price is $119.35. The company has a market capitalization of $10.82 billion, a P/E ratio of 121.93 and a beta of 1.72.

Analyst Ratings Changes

MTZ has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price target on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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 report on Monday, November 4th. Truist Financial increased their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Company 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.