GS Investments Inc. Cuts Stock Position in MasTec, Inc. (NYSE:MTZ)

GS Investments Inc. cut its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 22.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,570 shares of the construction company's stock after selling 10,160 shares during the quarter. MasTec comprises 1.9% of GS Investments Inc.'s investment portfolio, making the stock its 21st biggest holding. GS Investments Inc.'s holdings in MasTec were worth $4,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new position in MasTec during the second quarter valued at $27,000. GAMMA Investing LLC raised its holdings in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock worth $39,000 after buying an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec in the second quarter worth approximately $40,000. UMB Bank n.a. lifted its stake in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock worth $47,000 after buying an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock valued at $57,000 after acquiring an additional 598 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock valued at $5,558,301 over the last 90 days. Insiders own 21.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTZ shares. Stifel Nicolaus boosted their price target on MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. 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 research note on Wednesday, October 23rd. Citigroup boosted 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. Truist Financial upgraded shares of MasTec from a "hold" rating to a "buy" rating and raised their target price for the stock from $133.00 to $173.00 in a report on Tuesday, November 5th. Finally, TD Cowen increased their price target on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, MasTec currently has an average rating of "Moderate Buy" and an average price target of $148.62.

MasTec Price Performance

NYSE MTZ traded up $1.21 during trading on Thursday, hitting $142.03. 624,762 shares of the stock traded hands, compared to its average volume of 857,872. The firm has a 50-day simple moving average of $127.77 and a 200-day simple moving average of $114.56. 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 market capitalization of $11.25 billion, a P/E ratio of 126.93 and a beta of 1.70. MasTec, Inc. has a 12-month low of $54.06 and a 12-month high of $147.23.

About MasTec

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.