B. Metzler seel. Sohn & Co. Holding AG Makes New $1.17 Million Investment in MasTec, Inc. (NYSE:MTZ)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,536 shares of the construction company's stock, valued at approximately $1,174,000.

A number of other hedge funds have also recently bought and sold shares of MTZ. Bessemer Group Inc. boosted its holdings in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock worth $57,000 after purchasing an additional 598 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of MasTec by 13.0% during the 1st quarter. Advisors Asset Management Inc. now owns 29,069 shares of the construction company's stock valued at $2,711,000 after acquiring an additional 3,339 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MasTec by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company's stock worth $4,059,000 after acquiring an additional 1,905 shares during the period. Appian Way Asset Management LP acquired a new stake in shares of MasTec in the first quarter worth approximately $12,000,000. Finally, Bayesian Capital Management LP purchased a new stake in MasTec in the first quarter valued at approximately $2,052,000. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Stock Up 0.1 %

NYSE:MTZ traded up $0.09 on Friday, reaching $142.15. The stock had a trading volume of 613,928 shares, compared to its average volume of 988,391. The company has a 50-day moving average of $129.00 and a 200 day moving average of $115.00. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $11.26 billion, a P/E ratio of 126.92 and a beta of 1.70. MasTec, Inc. has a 12-month low of $54.06 and a 12-month high of $147.23.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at $28,140,916.08. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock worth $5,558,301 in the last 90 days. 21.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Truist Financial upgraded 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 note on Tuesday, November 5th. UBS Group boosted their target price on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. B. Riley restated a "buy" rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. began coverage on shares of MasTec in a research report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of "Moderate Buy" and an average target price of $148.62.

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.