Mirae Asset Global Investments Co. Ltd. increased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 1,205.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,940 shares of the construction company's stock after purchasing an additional 8,255 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in MasTec were worth $1,214,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the 3rd quarter valued at $25,000. R Squared Ltd acquired a new stake in MasTec in the 4th quarter valued at $44,000. UMB Bank n.a. boosted its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after buying an additional 120 shares in the last quarter. True Wealth Design LLC acquired a new stake in MasTec in the 3rd quarter valued at $57,000. Finally, GAMMA Investing LLC boosted its stake in MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company's stock valued at $63,000 after buying an additional 146 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.
Insider Activity at MasTec
In related news, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares in the company, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares of the company's stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MTZ shares. KeyCorp boosted their price objective on MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Stifel Nicolaus boosted their price objective on MasTec from $155.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. UBS Group boosted their price objective on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Craig Hallum boosted their price objective on MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.57.
View Our Latest Report on MasTec
MasTec Trading Down 1.1 %
NYSE MTZ traded down $1.48 on Friday, reaching $135.48. The company had a trading volume of 656,864 shares, compared to its average volume of 1,019,363. The stock's 50 day moving average is $142.55 and its 200-day moving average is $129.87. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 120.96 and a beta of 1.73. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $68.68 and a 52 week high of $166.95.
About MasTec
(
Free Report)
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.
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