Impact Partnership Wealth LLC Purchases New Stake in MasTec, Inc. (NYSE:MTZ)

Impact Partnership Wealth LLC purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,884 shares of the construction company's stock, valued at approximately $256,000.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its holdings 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 acquiring an additional 120 shares during the period. True Wealth Design LLC acquired a new position in shares of MasTec during the 3rd quarter valued at about $57,000. GAMMA Investing LLC grew its holdings in shares of MasTec by 39.9% in the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company's stock valued at $63,000 after purchasing an additional 146 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in MasTec during the third quarter worth about $84,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now owns 197,202 shares of the company's stock, valued at $26,746,507.26. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on MTZ shares. Guggenheim initiated coverage on shares of MasTec in a research report on Wednesday, January 8th. They set a "buy" rating and a $195.00 price target on the stock. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Truist Financial increased their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. B. Riley reissued a "buy" rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, Citigroup increased their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and a consensus price target of $157.21.

MasTec Stock Down 0.4 %

MTZ stock traded down $0.71 during midday trading on Friday, reaching $159.50. 602,496 shares of the company were exchanged, compared to its average volume of 654,277. MasTec, Inc. has a 1-year low of $63.97 and a 1-year high of $166.95. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 142.41 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock's 50-day simple moving average is $143.34 and its 200 day simple moving average is $126.29.

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.