Van ECK Associates Corp trimmed its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,320 shares of the construction company's stock after selling 18,650 shares during the quarter. Van ECK Associates Corp owned approximately 0.33% of MasTec worth $35,985,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company's stock worth $48,928,000 after purchasing an additional 289,090 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of MasTec by 57.7% during 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 last quarter. Barclays PLC lifted its position in MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after buying an additional 209,472 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in MasTec by 12,210.0% in the 3rd quarter. International Assets Investment Management LLC now owns 129,255 shares of the construction company's stock worth $15,911,000 after buying an additional 128,205 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
MTZ has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. KeyCorp boosted their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. UBS Group increased their target price on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Finally, Citigroup lifted their price objective on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.
Check Out Our Latest Stock Analysis on MasTec
MasTec Stock Performance
MasTec stock traded down $1.48 during mid-day trading on Monday, reaching $135.48. The company's stock had a trading volume of 656,864 shares, compared to its average volume of 1,019,363. 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, Inc. has a twelve month low of $68.68 and a twelve month high of $166.95. The business has a 50 day moving average price of $142.58 and a 200-day moving average price of $130.22. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 120.96 and a beta of 1.73.
Insider Activity
In other news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred 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 sale, the chief operating officer now owns 187,202 shares of the company's stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.
About MasTec
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Free Report)
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.
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