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

Swedbank AB cut its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 12.7% in the third quarter, according to the company in its most recent Form 13F 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 quarter. Swedbank AB owned about 0.06% of MasTec worth $6,093,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in shares of MasTec during the second quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale bought a new position in MasTec in the 2nd quarter valued at $40,000. GAMMA Investing LLC increased its stake in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock worth $39,000 after purchasing an additional 144 shares during the period. UMB Bank n.a. lifted its position in shares of MasTec by 46.3% during 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 last quarter. Finally, Blue Trust Inc. boosted its stake in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock valued at $60,000 after purchasing an additional 138 shares during the period. 78.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTZ has been the subject of several research reports. DA Davidson boosted their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Stifel Nicolaus upped their price objective on shares of MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Citigroup raised their target price on shares of MasTec from $118.00 to $122.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Truist Financial boosted their price target on shares of MasTec from $112.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.62.

MasTec Stock Down 0.1 %

Shares of MTZ stock opened at $127.15 on Friday. The stock's fifty day moving average price is $116.51 and its 200 day moving average price is $107.42. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22. The company has a market cap of $10.10 billion, a price-to-earnings ratio of -908.21 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the business earned $0.81 EPS. MasTec's revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that MasTec, Inc. will post 2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred 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 owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,800 shares of company stock valued at $2,978,212. 21.30% of the stock is owned by company insiders.

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.