MasTec, Inc. (NYSE:MTZ) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 65.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,260,865 shares of the construction company's stock after buying an additional 895,227 shares during the period. Pacer Advisors Inc. owned approximately 2.85% of MasTec worth $278,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MTZ. Makena Capital Management LLC lifted its holdings in shares of MasTec by 41.4% in the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company's stock worth $10,728,000 after acquiring an additional 25,532 shares during the last quarter. Advisors Asset Management Inc. grew its position in MasTec by 4.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 33,761 shares of the construction company's stock valued at $4,156,000 after acquiring an additional 1,375 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in MasTec in the third quarter worth $1,174,000. Caprock Group LLC increased its stake in MasTec by 13.4% in the third quarter. Caprock Group LLC now owns 2,999 shares of the construction company's stock worth $369,000 after purchasing an additional 354 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of MasTec during the third quarter worth $412,000. 78.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial upgraded shares of MasTec from a "hold" rating to a "buy" rating and lifted their price objective for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. TD Cowen upped their target price on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. UBS Group increased their price target on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. initiated coverage on MasTec in a report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of "Moderate Buy" and an average target price of $148.62.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 20,000 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares of the company's stock, valued at approximately $27,426,096.54. This trade represents a 8.43 % decrease in their position. The sale 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 company's stock in a transaction on Wednesday, September 18th. The stock was 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 $5,600,592.98. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,823 shares of company stock worth $5,558,301. Company insiders own 21.30% of the company's stock.

MasTec Stock Performance

NYSE:MTZ traded up $1.21 during trading hours on Thursday, reaching $142.03. The company had a trading volume of 624,762 shares, compared to its average volume of 857,872. 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 1-year low of $54.06 and a 1-year high of $147.23. The business's 50 day moving average price is $127.77 and its 200-day moving average price is $114.56. The firm has a market cap of $11.25 billion, a PE ratio of 126.93 and a beta of 1.70.

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.