Concurrent Investment Advisors LLC Has $665,000 Stock Position in MasTec, Inc. (NYSE:MTZ)

Concurrent Investment Advisors LLC trimmed its position in MasTec, Inc. (NYSE:MTZ) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,884 shares of the construction company’s stock after selling 132 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in MasTec were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the third quarter worth $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the 4th quarter valued at $25,000. Global Retirement Partners LLC raised its stake in MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares during the last quarter. R Squared Ltd acquired a new position in MasTec during the 4th quarter valued at $44,000. Finally, True Wealth Design LLC acquired a new position in MasTec during the 3rd quarter valued at $57,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated 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 owns 42,478 shares of the company’s stock, valued at approximately $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 the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

MasTec Stock Down 4.8 %

MTZ opened at $126.35 on Monday. The firm’s 50-day simple moving average is $142.25 and its 200-day simple moving average is $131.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a twelve month low of $69.80 and a twelve month high of $166.95. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. KeyCorp upped their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Stifel Nicolaus upped their target price on shares of MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. B. Riley reiterated 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. JPMorgan Chase & Co. upped their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. 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.com, MasTec presently has an average rating of “Moderate Buy” and an average price target of $158.57.

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.