MasTec, Inc. (NYSE:MTZ) Shares Sold by American Trust

American Trust reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,646 shares of the construction company’s stock after selling 988 shares during the period. American Trust’s holdings in MasTec were worth $449,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in shares of 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 acquiring an additional 895,227 shares in the last quarter. State Street Corp grew its position in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of 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 worth $127,773,000 after acquiring an additional 446,762 shares during the last quarter. Geode Capital Management LLC increased its position in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTZ. The Goldman Sachs Group boosted their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird lifted their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Craig Hallum boosted their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Truist Financial raised MasTec from a “hold” rating to a “buy” rating and upped their price objective for the stock from $133.00 to $173.00 in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus increased their target price on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average target price of $149.00.

Insider Transactions at MasTec

In other 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 transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred 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 sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,823 shares of company stock worth $7,493,301. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of NYSE MTZ opened at $137.78 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. The company has a market cap of $10.92 billion, a PE ratio of 123.02 and a beta of 1.72. The stock has a fifty day moving average price of $134.53 and a 200 day moving average price of $118.44. MasTec, Inc. has a 1-year low of $60.96 and a 1-year high of $150.12.

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.