MasTec, Inc. (NYSE:MTZ) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in MasTec, Inc. (NYSE:MTZ) by 39.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,720 shares of the construction company’s stock after selling 5,055 shares during the quarter. Intech Investment Management LLC’s holdings in MasTec were worth $950,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in MasTec by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company’s stock valued at $4,059,000 after purchasing an additional 1,905 shares during the last quarter. Tidal Investments LLC increased its stake in MasTec by 132.4% in the first quarter. Tidal Investments LLC now owns 7,862 shares of the construction company’s stock valued at $733,000 after purchasing an additional 4,479 shares during the last quarter. Comerica Bank increased its stake in MasTec by 1.9% in the first quarter. Comerica Bank now owns 26,824 shares of the construction company’s stock valued at $2,501,000 after purchasing an additional 498 shares during the last quarter. Swedbank AB acquired a new position in MasTec in the first quarter valued at $5,287,000. Finally, Cetera Advisors LLC acquired a new position in MasTec in the first quarter valued at $268,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly 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. Insiders sold 42,823 shares of company stock valued at $5,558,301 over the last quarter. Company insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MTZ. Citigroup upped their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. KeyCorp boosted their price target on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. DA Davidson boosted their price target on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. B. Riley reissued a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, Truist Financial raised MasTec from a “hold” rating to a “buy” rating and boosted their price target for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. Two investment 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, MasTec presently has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Price Performance

Shares of NYSE MTZ opened at $144.55 on Friday. MasTec, Inc. has a 1-year low of $54.06 and a 1-year high of $150.12. The business has a 50-day moving average of $130.77 and a 200-day moving average of $115.88. 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 capitalization of $11.45 billion, a price-to-earnings ratio of 129.05 and a beta of 1.70.

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.