Convergence Investment Partners LLC Buys 3,762 Shares of MasTec, Inc. (NYSE:MTZ)

Convergence Investment Partners LLC increased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 47.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,622 shares of the construction company's stock after purchasing an additional 3,762 shares during the quarter. Convergence Investment Partners LLC's holdings in MasTec were worth $1,582,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ameliora Wealth Management Ltd. acquired a new stake in MasTec in the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the 3rd quarter valued at about $25,000. R Squared Ltd acquired a new stake in MasTec in the 4th quarter valued at about $44,000. True Wealth Design LLC acquired a new stake in MasTec in the 3rd quarter valued at about $57,000. Finally, UMB Bank n.a. lifted its holdings in MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock valued at $67,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MTZ shares. Robert W. Baird upped their price target on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a report on Monday, November 4th. Guggenheim started 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. Truist Financial upped their price target on shares of MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, KeyCorp upped their price target on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, MasTec presently 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 the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 187,202 shares of the company's stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred 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 completion of 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 owned by corporate insiders.

MasTec Stock Down 4.8 %

Shares of MTZ traded down $6.43 during trading hours on Friday, reaching $126.35. The company's stock had a trading volume of 1,179,244 shares, compared to its average volume of 970,119. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73. MasTec, Inc. has a 1-year low of $69.80 and a 1-year high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $142.25 and a two-hundred day moving average of $130.67.

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.