Cerity Partners LLC Purchases 17,144 Shares of MasTec, Inc. (NYSE:MTZ)

Cerity Partners LLC increased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 285.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,151 shares of the construction company's stock after purchasing an additional 17,144 shares during the period. Cerity Partners LLC's holdings in MasTec were worth $2,850,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Swedbank AB bought a new position in MasTec in the 1st quarter valued at about $5,287,000. Boston Partners acquired a new stake in shares of MasTec during the 1st quarter worth approximately $748,000. Texas Permanent School Fund Corp increased its stake in MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company's stock valued at $6,154,000 after acquiring an additional 4,716 shares during the last quarter. Makena Capital Management LLC raised its position in MasTec by 41.4% during the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company's stock valued at $10,728,000 after purchasing an additional 25,532 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock worth $77,592,000 after purchasing an additional 7,469 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTZ shares. The Goldman Sachs Group lifted their price target on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Truist Financial raised shares of MasTec from a "hold" rating to a "buy" rating and increased their target price for the stock from $133.00 to $173.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a report on Monday, October 7th. They set an "overweight" rating and a $153.00 price target on the stock. Finally, Robert W. Baird upped their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Two 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $148.62.

MasTec Trading Down 0.3 %

NYSE MTZ traded down $0.49 on Friday, reaching $144.06. The company had a trading volume of 557,516 shares, compared to its average volume of 970,256. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 128.63 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a fifty-two week low of $57.38 and a fifty-two week high of $150.12. The business has a 50 day moving average of $131.53 and a two-hundred day moving average of $116.40.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now 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 at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,823 shares of company stock worth $7,493,301. Insiders own 21.30% of the company's stock.

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.