Verdence Capital Advisors LLC Buys New Shares in MasTec, Inc. (NYSE:MTZ)

Verdence Capital Advisors LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,646 shares of the construction company’s stock, valued at approximately $203,000.

A number of other hedge funds also recently bought and sold shares of MTZ. Capital Performance Advisors LLP bought a new stake in shares of MasTec in the 3rd quarter worth approximately $95,000. Moloney Securities Asset Management LLC bought a new stake in MasTec in the third quarter worth $1,024,000. Forum Financial Management LP purchased a new stake in MasTec during the third quarter valued at about $201,000. Van ECK Associates Corp grew its stake in shares of MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after buying an additional 190,320 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after buying an additional 100 shares during the period. Institutional investors own 78.10% of the company’s stock.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other MasTec news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock valued at $5,558,301 over the last ninety days. Company insiders own 21.30% of the company’s stock.

MasTec Stock Down 3.7 %

Shares of NYSE:MTZ opened at $139.70 on Wednesday. The firm has a market capitalization of $11.07 billion, a P/E ratio of 124.73 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a 50 day moving average price of $123.38 and a 200-day moving average price of $112.73. MasTec, Inc. has a 52-week low of $48.62 and a 52-week high of $147.23.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup increased their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group increased their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, TD Cowen boosted their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.62.

About MasTec

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.