Erste Asset Management GmbH Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Erste Asset Management GmbH purchased a new position 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 and Exchange Commission. The fund purchased 22,901 shares of the construction company's stock, valued at approximately $2,812,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in MasTec by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company's stock valued at $4,059,000 after purchasing an additional 1,905 shares during the last quarter. Tidal Investments LLC raised its position in MasTec by 132.4% during the first quarter. Tidal Investments LLC now owns 7,862 shares of the construction company's stock worth $733,000 after acquiring an additional 4,479 shares during the last quarter. Comerica Bank lifted its holdings in shares of MasTec by 1.9% in the first quarter. Comerica Bank now owns 26,824 shares of the construction company's stock valued at $2,501,000 after purchasing an additional 498 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of MasTec in the first quarter valued at approximately $268,000. Finally, Boston Partners purchased a new position in shares of MasTec during the 1st quarter worth approximately $748,000. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. This represents a 5.07 % decrease in their position. The sale 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 the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,823 shares of company stock worth $7,493,301. Company insiders own 21.30% of the company's stock.

MasTec Trading Up 0.9 %

Shares of MasTec stock traded up $1.32 during trading hours on Tuesday, reaching $143.37. The stock had a trading volume of 811,969 shares, compared to its average volume of 851,340. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 128.01 and a beta of 1.72. MasTec, Inc. has a 1 year low of $60.96 and a 1 year high of $150.12. 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 50 day simple moving average of $132.25 and a two-hundred day simple moving average of $116.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MTZ shares. JPMorgan Chase & Co. began coverage on MasTec in a report on Monday, October 7th. They set an "overweight" rating and a $153.00 target price on the stock. Truist Financial raised MasTec from a "hold" rating to a "buy" rating and increased their price objective for the company from $133.00 to $173.00 in a research note on Tuesday, November 5th. UBS Group upped their target price on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. B. Riley reissued a "buy" rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, MasTec presently has an average rating of "Moderate Buy" and an average price target of $148.62.

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.