Kayne Anderson Capital Advisors LP Trims Stake in MasTec, Inc. (NYSE:MTZ)

Kayne Anderson Capital Advisors LP cut its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 52.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,078 shares of the construction company's stock after selling 7,753 shares during the quarter. Kayne Anderson Capital Advisors LP's holdings in MasTec were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MTZ. Pacer Advisors Inc. boosted its holdings in shares of MasTec by 15,067.0% in the second 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 period. D1 Capital Partners L.P. purchased a new stake in MasTec in the second quarter worth approximately $79,494,000. Hood River Capital Management LLC grew its holdings in shares of MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock valued at $127,773,000 after purchasing an additional 446,762 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of MasTec by 3,439.7% during 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 during the last quarter. Finally, Van ECK Associates Corp increased its stake in MasTec by 205.4% in the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company's stock worth $34,613,000 after purchasing an additional 190,320 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of MasTec in a report on Monday, October 7th. They set an "overweight" rating and a $153.00 target price for the company. Robert W. Baird lifted their target price on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Stifel Nicolaus boosted their price target on shares of MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Craig Hallum raised their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Truist Financial upgraded MasTec from a "hold" rating to a "buy" rating and upped their target price for the stock from $133.00 to $173.00 in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of "Moderate Buy" and an average target price of $148.62.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of the firm'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 transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at approximately $28,140,916.08. This trade represents a 0.37 % decrease in their position. The transaction 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 MasTec stock in a transaction that occurred 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 sale, the director now owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,823 shares of company stock valued at $5,558,301. Corporate insiders own 21.30% of the company's stock.

MasTec Stock Up 2.3 %

Shares of MTZ traded up $3.18 during mid-day trading on Monday, hitting $138.50. The company's stock had a trading volume of 803,982 shares, compared to its average volume of 857,796. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 123.64 and a beta of 1.70. MasTec, Inc. has a 52-week low of $52.88 and a 52-week high of $147.23. 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 company's 50-day moving average is $125.57 and its 200-day moving average is $113.75.

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.