Ritholtz Wealth Management Takes Position in MasTec, Inc. (NYSE:MTZ)

Ritholtz Wealth Management bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,765 shares of the construction company's stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in shares of MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock worth $281,000 after purchasing an additional 82 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in MasTec by 2.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company's stock worth $423,000 after buying an additional 94 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of 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 worth $3,269,000 after buying an additional 100 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock valued at $1,583,000 after acquiring an additional 101 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of research analyst reports. TD Cowen lifted their price target on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 4th. Truist Financial boosted their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Stifel Nicolaus upped their price objective on MasTec from $155.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup lifted their target price on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird raised their price target on MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $157.21.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the company'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 value of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now owns 197,202 shares of the company's stock, valued at $26,746,507.26. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,023 shares of company stock worth $4,515,089 in the last three months. Company insiders own 21.30% of the company's stock.

MasTec Trading Up 0.6 %

MTZ traded up $0.94 during trading on Thursday, hitting $160.08. The company's stock had a trading volume of 803,345 shares, compared to its average volume of 880,832. The stock's fifty day moving average price is $142.40 and its 200-day moving average price is $125.48. The firm has a market capitalization of $12.68 billion, a P/E ratio of 142.93 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a twelve month low of $62.87 and a twelve month high of $166.95.

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.