Sen. Markwayne Mullin Purchases Shares of MasTec, Inc. (NYSE:MTZ)

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of MasTec, Inc. NYSE: MTZ. In a filing disclosed on January 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in MasTec stock on January 2nd.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of iShares Core MSCI EAFE ETF BATS: IEFA on 1/8/2025.
• Sold $15,001 - $50,000 in shares of iShares MSCI Eurozone ETF BATS: EZU on 1/8/2025.
• Sold $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 1/8/2025.
• Purchased $15,001 - $50,000 in shares of The Goldman Sachs Group NYSE: GS on 1/2/2025.
• Purchased $15,001 - $50,000 in shares of Iron Mountain NYSE: IRM on 1/2/2025.
• Purchased $15,001 - $50,000 in shares of Coherent NYSE: COHR on 1/2/2025.
• Purchased $15,001 - $50,000 in shares of Credo Technology Group NASDAQ: CRDO on 1/2/2025.
• Purchased $15,001 - $50,000 in shares of Westinghouse Air Brake Technologies NYSE: WAB on 1/2/2025.
• Purchased $15,001 - $50,000 in shares of Dell Technologies NYSE: DELL on 1/2/2025.
• Purchased $15,001 - $50,000 in shares of Applied Industrial Technologies NYSE: AIT on 1/2/2025.

MasTec Price Performance

MTZ stock traded down $1.31 during trading on Tuesday, hitting $140.28. The company had a trading volume of 732,913 shares, compared to its average volume of 1,020,199. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 125.25 and a beta of 1.73. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $142.99 and a 200 day moving average of $128.18. MasTec, Inc. has a fifty-two week low of $66.66 and a fifty-two week high of $166.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kingswood Wealth Advisors LLC boosted its stake in MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock worth $3,880,000 after purchasing an additional 8,948 shares during the period. Atom Investors LP boosted its position in shares of MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company's stock worth $7,511,000 after buying an additional 55,363 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock valued at $2,433,000 after buying an additional 13,241 shares in the last quarter. State Street Corp raised its position in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after buying an additional 24,522 shares during the period. Finally, Makena Capital Management LLC lifted its stake in 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 in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares of the company's stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MTZ shares. Stifel Nicolaus increased their price objective on shares of MasTec from $155.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. B. Riley reissued a "buy" rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group lifted their target price on MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, MasTec has an average rating of "Moderate Buy" and a consensus target price of $158.57.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father's plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.