MasTec, Inc. (NYSE:MTZ) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC boosted its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 32.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,803 shares of the construction company's stock after acquiring an additional 4,838 shares during the period. MML Investors Services LLC's holdings in MasTec were worth $2,438,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc boosted its position in shares of MasTec by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock worth $281,000 after acquiring an additional 82 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company's stock valued at $3,269,000 after purchasing an additional 100 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 buying an additional 101 shares during the period. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock worth $60,000 after buying an additional 138 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Up 1.5 %

MTZ stock traded up $2.02 during midday trading on Monday, hitting $139.80. 841,111 shares of the company's stock were exchanged, compared to its average volume of 855,252. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 124.82 and a beta of 1.72. 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 firm has a 50 day moving average price of $134.73 and a 200-day moving average price of $118.75. MasTec, Inc. has a 12-month low of $60.96 and a 12-month high of $150.12.

Insider Buying and Selling

In other news, COO Robert E. Apple sold 800 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, 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 the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated 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 directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,823 shares of company stock worth $7,493,301. Insiders own 21.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial raised MasTec from a "hold" rating to a "buy" rating and boosted their price target for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. TD Cowen increased their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Robert W. Baird lifted their price target on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, B. Riley reissued a "buy" rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, MasTec currently has an average rating of "Moderate Buy" and a consensus target price of $149.00.

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.