ING Groep NV Decreases Stake in MasTec, Inc. (NYSE:MTZ)

ING Groep NV lowered its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,200 shares of the construction company's stock after selling 5,300 shares during the quarter. ING Groep NV's holdings in MasTec were worth $2,979,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MTZ. Pacer Advisors Inc. lifted its holdings in shares of MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company's stock worth $146,110,000 after acquiring an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in MasTec during the second quarter worth $79,494,000. Hood River Capital Management LLC boosted its position in shares of MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock worth $127,773,000 after buying an additional 446,762 shares during the period. AQR Capital Management LLC grew its stake in shares of MasTec by 3,439.7% in the second quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company's stock valued at $28,085,000 after buying an additional 255,088 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of MasTec by 205.4% in the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company's stock valued at $34,613,000 after buying an additional 190,320 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 800 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares of the company's stock, 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. In the last quarter, insiders sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MTZ. Truist Financial upgraded MasTec from a "hold" rating to a "buy" rating and raised their target price for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. Citigroup raised their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. UBS Group upped their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Finally, TD Cowen upped their price objective on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of "Moderate Buy" and an average price target of $148.62.

MasTec Stock Down 1.5 %

Shares of NYSE MTZ traded down $2.08 during midday trading on Friday, hitting $135.32. 806,456 shares of the company's stock were exchanged, compared to its average volume of 909,862. The firm's fifty day simple moving average is $125.57 and its 200-day simple moving average is $113.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market cap of $10.72 billion, a PE ratio of 120.82 and a beta of 1.70. MasTec, Inc. has a twelve month low of $52.74 and a twelve month high of $147.23.

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.