Quadrature Capital Ltd Sells 3,951 Shares of MasTec, Inc. (NYSE:MTZ)

Quadrature Capital Ltd trimmed its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 28.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,060 shares of the construction company's stock after selling 3,951 shares during the quarter. Quadrature Capital Ltd's holdings in MasTec were worth $1,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc raised its stake in MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock valued at $281,000 after purchasing an additional 82 shares during the period. New York State Teachers Retirement System raised its position in MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company's stock valued at $3,269,000 after buying an additional 100 shares during the period. Victory Capital Management Inc. lifted its stake in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock worth $1,583,000 after acquiring an additional 101 shares in the last quarter. UMB Bank n.a. boosted its position in 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 acquiring an additional 120 shares during the period. Finally, Blue Trust Inc. grew its stake in MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock valued at $60,000 after acquiring an additional 138 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction on Friday, September 20th. The stock was 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 owns 217,202 shares in the company, valued at $27,426,096.54. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,823 shares of company stock valued at $7,493,301. 21.30% of the stock is owned by company insiders.

MasTec Stock Performance

NYSE:MTZ traded up $0.65 during midday trading on Friday, reaching $141.92. The stock had a trading volume of 637,294 shares, compared to its average volume of 818,504. The stock has a market capitalization of $11.25 billion, a P/E ratio of 126.71 and a beta of 1.72. 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 $60.96 and a 1-year high of $150.12. The firm's fifty day simple moving average is $133.39 and its 200-day simple moving average is $117.55.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a report on Monday, October 7th. They set an "overweight" rating and a $153.00 price target for the company. UBS Group boosted their price target on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. TD Cowen increased their price objective on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Craig Hallum boosted their target price on MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group raised their price target on MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, MasTec currently has a consensus rating of "Moderate Buy" and an average price target of $148.62.

MasTec Company Profile

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.