Sumitomo Mitsui Trust Group Inc. Takes $1.48 Million Position in MasTec, Inc. (NYSE:MTZ)

Sumitomo Mitsui Trust Group Inc. bought a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,868 shares of the construction company's stock, valued at approximately $1,480,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MTZ. Pacer Advisors Inc. lifted its stake in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after purchasing an additional 895,227 shares during the last quarter. State Street Corp grew its holdings in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock worth $224,530,000 after purchasing an additional 24,522 shares during the period. Geode Capital Management LLC grew its holdings in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock worth $126,370,000 after purchasing an additional 16,844 shares during the period. Point72 Asset Management L.P. grew its holdings in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock worth $94,096,000 after purchasing an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock worth $77,592,000 after purchasing an additional 7,469 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Transactions at MasTec

In related 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 transaction, the director now owns 42,478 shares of the company's stock, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 in the company, valued at approximately $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MTZ shares. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Guggenheim started coverage on shares of MasTec in a report on Wednesday, January 8th. They set a "buy" rating and a $195.00 price objective for the company. TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. B. Riley reaffirmed a "buy" rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.

MasTec Price Performance

Shares of MasTec stock traded down $0.66 during trading on Tuesday, hitting $135.12. The stock had a trading volume of 136,341 shares, compared to its average volume of 952,659. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 120.64 and a beta of 1.73. MasTec, Inc. has a 12 month low of $68.68 and a 12 month high of $166.95. The business's 50-day moving average is $142.58 and its 200 day moving average is $130.22. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec 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.