3,107 Shares in MasTec, Inc. (NYSE:MTZ) Purchased by BayBridge Capital Group LLC

BayBridge Capital Group LLC purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,107 shares of the construction company's stock, valued at approximately $423,000.

Several other hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after acquiring an additional 895,227 shares in the last quarter. State Street Corp raised its stake in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after acquiring an additional 24,522 shares in the last quarter. Geode Capital Management LLC raised its stake in MasTec by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock valued at $126,370,000 after acquiring an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. raised its stake in 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 acquiring an additional 279,778 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock valued at $77,592,000 after acquiring an additional 7,469 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Analysts Set New Price Targets

MTZ has been the topic of several recent analyst reports. Craig Hallum lifted their target price on MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Citigroup lifted their price target on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price target on MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. UBS Group lifted their price target on MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, TD Cowen lifted their price target on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.57.

Insider Activity

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company's stock, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now directly owns 42,478 shares of the company's stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Down 1.7 %

Shares of MTZ stock traded down $2.37 on Wednesday, reaching $137.97. 843,241 shares of the company's stock traded hands, compared to its average volume of 993,705. MasTec, Inc. has a 12-month low of $68.68 and a 12-month high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $10.93 billion, a P/E ratio of 123.19 and a beta of 1.73. The business's 50 day moving average price is $142.76 and its two-hundred day moving average price is $129.46.

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.