Verition Fund Management LLC Has $4.76 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Verition Fund Management LLC boosted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 192.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,634 shares of the construction company's stock after purchasing an additional 25,424 shares during the period. Verition Fund Management LLC's holdings in MasTec were worth $4,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Hobbs Group Advisors LLC purchased a new stake in shares of MasTec during the second quarter valued at approximately $27,000. GAMMA Investing LLC boosted its holdings in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock valued at $39,000 after acquiring an additional 144 shares during the period. DekaBank Deutsche Girozentrale bought a new position in MasTec in the 2nd quarter worth about $40,000. UMB Bank n.a. grew its holdings in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock worth $47,000 after buying an additional 120 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock worth $60,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several research analyst reports. Truist Financial upgraded MasTec from a "hold" rating to a "buy" rating and upped their price objective for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. DA Davidson raised their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, August 5th. KeyCorp raised their price objective on MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Stifel Nicolaus upped their price target on shares of MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, B. Riley reiterated a "buy" rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, MasTec has a consensus rating of "Moderate Buy" and a consensus target price of $148.62.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 800 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,823 shares of company stock worth $7,493,301 in the last 90 days. Corporate insiders own 21.30% of the company's stock.

MasTec Trading Up 0.9 %

Shares of MTZ stock traded up $1.32 on Tuesday, reaching $143.37. The company had a trading volume of 811,969 shares, compared to its average volume of 851,340. 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 stock has a market cap of $11.36 billion, a PE ratio of 128.01 and a beta of 1.72. The company has a 50-day moving average of $131.87 and a 200-day moving average of $116.72.

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.