Royce & Associates LP Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

Royce & Associates LP decreased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,959 shares of the construction company's stock after selling 5,979 shares during the quarter. Royce & Associates LP owned about 0.11% of MasTec worth $10,458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in shares of MasTec during the second quarter worth $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the 2nd quarter valued at about $40,000. GAMMA Investing LLC raised its stake in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock valued at $39,000 after purchasing an additional 144 shares during the period. UMB Bank n.a. lifted its holdings 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 purchasing an additional 120 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock worth $60,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 8.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction 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 approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,823 shares of company stock worth $5,558,301. Insiders own 21.30% of the company's stock.

MasTec Stock Performance

Shares of MasTec stock traded down $2.08 during trading hours on Friday, hitting $135.32. 806,456 shares of the company's stock traded hands, compared to its average volume of 909,862. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 120.82 and a beta of 1.70. MasTec, Inc. has a 12-month low of $52.74 and a 12-month high of $147.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a fifty day simple moving average of $125.57 and a 200-day simple moving average of $113.75.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial raised MasTec from a "hold" rating to a "buy" rating and upped their price target for the stock from $133.00 to $173.00 in a research report on Tuesday, November 5th. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 4th. DA Davidson boosted their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. UBS Group increased their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, KeyCorp lifted their target price on MasTec from $123.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $148.62.

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.