Pitcairn Co. Cuts Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Pitcairn Co. cut its position in shares of MasTec, Inc. (NYSE:MTZ) by 24.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,661 shares of the construction company’s stock after selling 538 shares during the period. Pitcairn Co.’s holdings in MasTec were worth $204,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in shares of MasTec during the 2nd quarter worth about $27,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec in the 2nd quarter worth about $40,000. GAMMA Investing LLC boosted its position in MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. UMB Bank n.a. increased its position in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Down 2.3 %

Shares of NYSE:MTZ opened at $144.54 on Thursday. MasTec, Inc. has a 52-week low of $54.06 and a 52-week high of $150.12. 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 moving average of $130.22 and a two-hundred day moving average of $115.68. The stock has a market cap of $11.45 billion, a P/E ratio of 129.05 and a beta of 1.70.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Craig Hallum lifted their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus lifted their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and upped their price target for the stock from $133.00 to $173.00 in a research report on Tuesday, November 5th. UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, KeyCorp increased their target price on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by company insiders.

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.