Y Intercept Hong Kong Ltd Buys 15,437 Shares of MasTec, Inc. (NYSE:MTZ)

Y Intercept Hong Kong Ltd lifted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 221.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,408 shares of the construction company's stock after purchasing an additional 15,437 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in MasTec were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MTZ. Atom Investors LP grew its stake in shares of MasTec by 979.0% during 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 last quarter. Texas Permanent School Fund Corp increased its holdings in MasTec by 8.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company's stock worth $6,154,000 after purchasing an additional 4,716 shares in the last quarter. Makena Capital Management LLC increased its holdings 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 purchasing an additional 25,532 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in MasTec in the third quarter valued at about $1,470,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock valued at $77,592,000 after purchasing an additional 7,469 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Down 0.7 %

Shares of MTZ stock traded down $0.99 on Tuesday, reaching $132.82. 944,828 shares of the company were exchanged, compared to its average volume of 857,069. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a 50-day moving average of $133.83 and a 200-day moving average of $117.99. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 118.58 and a beta of 1.72. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. 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. Robert W. Baird raised their target price on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. KeyCorp upped their price target on MasTec from $123.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Finally, Truist Financial upgraded MasTec from a "hold" rating to a "buy" rating and upped their target price for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, MasTec presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.62.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction on 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 sale, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,823 shares of company stock valued at $7,493,301. 21.30% of the stock is owned by company insiders.

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.