MasTec, Inc. (NYSE:MTZ) Stake Lifted by Ieq Capital LLC

Ieq Capital LLC increased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 504.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,656 shares of the construction company’s stock after buying an additional 30,592 shares during the quarter. Ieq Capital LLC’s holdings in MasTec were worth $4,990,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC grew its stake in MasTec by 45.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares during the last quarter. Atom Investors LP grew its stake in MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after buying an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after buying an additional 13,241 shares during the last quarter. State Street Corp grew its stake in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in MasTec during the 3rd quarter worth $1,470,000. 78.10% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Craig Hallum boosted their price target on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial boosted their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. 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. KeyCorp boosted their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average price target of $158.57.

MasTec Trading Down 4.8 %

Shares of NYSE MTZ opened at $126.35 on Friday. MasTec, Inc. has a 12 month low of $69.80 and a 12 month high of $166.95. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73. 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 business has a fifty day simple moving average of $142.25 and a 200-day simple moving average of $130.67.

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.