Community Trust & Investment Co. Reduces Position in MasTec, Inc. (NYSE:MTZ)

Community Trust & Investment Co. cut its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,093 shares of the construction company's stock after selling 22,224 shares during the period. MasTec makes up approximately 1.4% of Community Trust & Investment Co.'s investment portfolio, making the stock its 22nd largest holding. Community Trust & Investment Co. owned about 0.20% of MasTec worth $21,931,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock valued at $281,000 after acquiring an additional 82 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company's stock valued at $423,000 after buying an additional 94 shares during the period. New York State Teachers Retirement System increased its holdings in MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company's stock valued at $3,269,000 after buying an additional 100 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock valued at $1,583,000 after purchasing an additional 101 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock worth $47,000 after buying an additional 120 shares during the last quarter. Institutional investors own 78.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MTZ shares. Citigroup raised their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Guggenheim assumed coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price target for the company. Craig Hallum boosted their target price on MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, November 4th. KeyCorp boosted their price objective on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Finally, UBS Group upped their target price on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $155.07.

Insider Activity

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now directly owns 187,202 shares of the company's stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,023 shares of company stock worth $4,515,089. Insiders own 21.30% of the company's stock.

MasTec Stock Up 2.0 %

Shares of NYSE:MTZ traded up $2.99 during midday trading on Wednesday, reaching $153.66. The company's stock had a trading volume of 784,644 shares, compared to its average volume of 895,605. MasTec, Inc. has a 12-month low of $60.96 and a 12-month high of $155.71. The firm has a market capitalization of $12.18 billion, a P/E ratio of 137.20 and a beta of 1.74. The firm has a 50 day moving average of $140.64 and a 200-day moving average of $123.35. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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.