North Dakota State Investment Board purchased a new position in MasTec, Inc. (NYSE:MTZ – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,190 shares of the construction company’s stock, valued at approximately $476,000.
Several other institutional investors have also added to or reduced their stakes in MTZ. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in MasTec in the fourth quarter worth about $30,000. Root Financial Partners LLC acquired a new stake in MasTec in the third quarter worth about $49,000. Northwestern Mutual Wealth Management Co. boosted its holdings in MasTec by 105.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock worth $61,000 after acquiring an additional 182 shares in the last quarter. CI Investments Inc. boosted its holdings in MasTec by 39.9% in the third quarter. CI Investments Inc. now owns 319 shares of the construction company’s stock worth $68,000 after acquiring an additional 91 shares in the last quarter. Finally, Rothschild Investment LLC boosted its holdings in MasTec by 20.1% in the third quarter. Rothschild Investment LLC now owns 406 shares of the construction company’s stock worth $86,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.
MasTec Trading Down 1.7%
Shares of NYSE:MTZ opened at $382.24 on Friday. MasTec, Inc. has a 52-week low of $148.60 and a 52-week high of $441.43. The stock has a market cap of $30.20 billion, a price-to-earnings ratio of 66.94 and a beta of 1.82. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $360.61 and a 200-day moving average price of $279.78.
Analysts Set New Price Targets
Several equities research analysts have weighed in on MTZ shares. KeyCorp raised their price target on MasTec from $460.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. TD Cowen raised their price objective on MasTec from $320.00 to $445.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Robert W. Baird raised their price objective on MasTec from $348.00 to $473.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded MasTec from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Truist Financial raised their price objective on MasTec from $425.00 to $518.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Nineteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $459.28.
Get Our Latest Stock Report on MTZ
Insider Activity at MasTec
In related news, Director Javier Alberto Palomarez sold 950 shares of MasTec stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $325.43, for a total transaction of $309,158.50. Following the completion of the transaction, the director directly owned 10,592 shares in the company, valued at approximately $3,446,954.56. This trade represents a 8.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $417.00, for a total value of $1,251,000.00. Following the transaction, the director owned 30,646 shares of the company’s stock, valued at approximately $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,450 shares of company stock worth $3,512,759. 21.40% of the stock is owned by corporate insiders.
About MasTec
MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.
The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.
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