GS Investments Inc. Has $4.26 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

GS Investments Inc. cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 22.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 34,570 shares of the construction company’s stock after selling 10,160 shares during the quarter. MasTec makes up 1.9% of GS Investments Inc.’s investment portfolio, making the stock its 21st largest position. GS Investments Inc.’s holdings in MasTec were worth $4,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after acquiring an additional 1,356,634 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. D1 Capital Partners L.P. acquired a new position in shares of MasTec during the 2nd quarter worth approximately $79,494,000. Marshall Wace LLP increased its holdings in shares of MasTec by 4.3% during the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock worth $76,828,000 after purchasing an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of MasTec by 6.3% in the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after buying an additional 31,266 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Performance

Shares of MasTec stock opened at $140.84 on Thursday. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 125.75 and a beta of 1.70. MasTec, Inc. has a twelve month low of $54.06 and a twelve month high of $147.23. The company’s fifty day moving average is $127.77 and its 200 day moving average is $114.56. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Analyst Ratings Changes

A number of research firms have commented on MTZ. UBS Group raised their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. DA Davidson upped their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Robert W. Baird lifted their price target on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group increased their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

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.