Temasek Holdings Private Ltd Purchases Shares of 26,156 MasTec, Inc. (NYSE:MTZ)

Temasek Holdings Private Ltd purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,156 shares of the construction company's stock, valued at approximately $3,220,000.

Several other large investors have also made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in MasTec by 15,067.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company's stock worth $146,110,000 after buying an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in MasTec in the second quarter valued at $79,494,000. Hood River Capital Management LLC increased its holdings in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of MasTec by 266.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company's stock valued at $48,928,000 after acquiring an additional 289,090 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 20,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares of the company's stock, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,823 shares of company stock valued at $7,493,301 over the last quarter. 21.30% of the stock is owned by corporate insiders.

MasTec Price Performance

Shares of NYSE MTZ traded up $0.61 during midday trading on Friday, hitting $141.88. 234,857 shares of the company's stock were exchanged, compared to its average volume of 853,848. MasTec, Inc. has a 12-month low of $60.96 and a 12-month high of $150.12. 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 company has a market cap of $11.24 billion, a price-to-earnings ratio of 126.05 and a beta of 1.72. The business's fifty day moving average price is $133.01 and its two-hundred day moving average price is $117.33.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. B. Riley reissued a "buy" rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Citigroup raised their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. TD Cowen boosted their target price on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Truist Financial upgraded shares of MasTec from a "hold" rating to a "buy" rating and increased their price objective for the company from $133.00 to $173.00 in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.62.

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.