MasTec, Inc. (NYSE:MTZ) Shares Sold by Swedbank AB

Swedbank AB reduced its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,500 shares of the construction company's stock after selling 7,200 shares during the period. Swedbank AB owned about 0.06% of MasTec worth $6,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTZ. CIBC Asset Management Inc increased its position in MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock valued at $281,000 after acquiring an additional 82 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company's stock valued at $3,269,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock valued at $1,583,000 after purchasing an additional 101 shares during the last quarter. UMB Bank n.a. increased its stake in 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 purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. lifted its holdings in MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock valued at $60,000 after buying an additional 138 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MTZ has been the subject of several research analyst reports. DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, August 5th. JPMorgan Chase & Co. started coverage on MasTec in a report on Monday, October 7th. They issued an "overweight" rating and a $153.00 target price for the company. The Goldman Sachs Group increased their price target on MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Truist Financial raised shares of MasTec from a "hold" rating to a "buy" rating and upped their price objective for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. Finally, TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.62.

Insider Activity

In other news, COO Robert E. Apple sold 800 shares of the firm's stock in a transaction on Monday, October 7th. The stock was 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 in the company, valued at $28,140,916.08. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm'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 transaction, the director now owns 48,173 shares of the company's stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock worth $5,558,301 over the last 90 days. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Down 2.3 %

Shares of MTZ stock traded down $3.39 during trading hours on Thursday, reaching $144.55. 653,468 shares of the company's stock were exchanged, compared to its average volume of 858,865. 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 has a market cap of $11.45 billion, a price-to-earnings ratio of 129.05 and a beta of 1.70. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $150.12. The stock's 50 day moving average is $130.77 and its 200-day moving average is $115.88.

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.