Van ECK Associates Corp Lowers Stake in MasTec, Inc. (NYSE:MTZ)

Van ECK Associates Corp cut its position in shares of MasTec, Inc. (NYSE:MTZ) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,320 shares of the construction company’s stock after selling 18,650 shares during the quarter. Van ECK Associates Corp owned about 0.33% of MasTec worth $35,985,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after purchasing an additional 82 shares during the period. Coldstream Capital Management Inc. grew its stake in MasTec by 2.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after buying an additional 94 shares during the period. New York State Teachers Retirement System grew its stake in MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after buying an additional 100 shares during the period. Victory Capital Management Inc. increased its position in shares of MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after acquiring an additional 101 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after acquiring an additional 113 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Down 0.9 %

Shares of NYSE:MTZ opened at $136.85 on Friday. The firm has a market cap of $10.84 billion, a PE ratio of 122.18 and a beta of 1.73. The company has a fifty day simple moving average of $142.76 and a 200 day simple moving average of $129.46. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12-month low of $68.68 and a 12-month high of $166.95.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTZ. B. Riley reaffirmed a “buy” rating and set a $166.00 price target (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Guggenheim initiated coverage on MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. UBS Group raised their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, KeyCorp increased their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.57.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

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.