Cinctive Capital Management LP Purchases New Position in MasTec, Inc. (NYSE:MTZ)

Cinctive Capital Management LP bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,036 shares of the construction company's stock, valued at approximately $3,944,000.

Other institutional investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC bought a new stake in shares of MasTec in the 2nd quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock valued at $39,000 after acquiring an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of MasTec in the 2nd quarter valued at $40,000. UMB Bank n.a. boosted its holdings in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in MasTec during the third quarter worth $57,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MTZ. Stifel Nicolaus upped their price objective on shares of MasTec from $121.00 to $150.00 and gave the stock 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 raised their price objective for the stock from $133.00 to $173.00 in a research report on Tuesday, November 5th. DA Davidson increased their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. B. Riley reissued a "buy" rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, Robert W. Baird raised their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.62.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 800 shares of the business's 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 sale, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at $28,140,916.08. The trade was a 0.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company's stock, valued at $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,823 shares of company stock worth $7,493,301. 21.30% of the stock is owned by corporate insiders.

MasTec Trading Up 0.5 %

Shares of MTZ traded up $0.71 during trading hours on Tuesday, hitting $142.76. 296,303 shares of the stock traded hands, compared to its average volume of 854,091. MasTec, Inc. has a 1-year low of $60.96 and a 1-year high of $150.12. The business has a fifty day moving average of $131.87 and a 200-day moving average of $116.72. 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 firm has a market capitalization of $11.31 billion, a PE ratio of 128.09 and a beta of 1.72.

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.