Rhumbline Advisers Has $23.06 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

Rhumbline Advisers lessened its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,364 shares of the construction company's stock after selling 3,000 shares during the quarter. Rhumbline Advisers owned about 0.21% of MasTec worth $23,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Creative Planning raised its position in shares of MasTec by 9.5% in the 3rd quarter. Creative Planning now owns 2,909 shares of the construction company's stock valued at $358,000 after purchasing an additional 253 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of MasTec in the 3rd quarter valued at approximately $290,000. Private Advisor Group LLC raised its position in shares of MasTec by 89.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,956 shares of the construction company's stock valued at $487,000 after purchasing an additional 1,869 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of MasTec in the 3rd quarter valued at approximately $901,000. Finally, International Assets Investment Management LLC raised its position in shares of MasTec by 12,210.0% in the 3rd quarter. International Assets Investment Management LLC now owns 129,255 shares of the construction company's stock valued at $15,911,000 after purchasing an additional 128,205 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company's stock, valued at approximately $6,159,310. This represents a 6.60 % 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, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 187,202 shares of the company's stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

Analyst Ratings Changes

MTZ has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their target price on MasTec from $155.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Guggenheim started coverage on MasTec in a research report on Wednesday, January 8th. They set a "buy" rating and a $195.00 price target on the stock. Truist Financial upped their price target on MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. TD Cowen upped their price target on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $158.57.

MasTec Stock Performance

NYSE MTZ traded down $6.43 during trading hours on Friday, hitting $126.35. The company had a trading volume of 1,179,244 shares, compared to its average volume of 970,119. MasTec, Inc. has a fifty-two week low of $69.80 and a fifty-two week high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $142.48 and a 200-day simple moving average of $130.49. The firm has a market cap of $10.01 billion, a P/E ratio of 112.81 and a beta of 1.73.

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.