Candriam S.C.A. Boosts Holdings in MasTec, Inc. $MTZ

Candriam S.C.A. increased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 292.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,497 shares of the construction company’s stock after acquiring an additional 122,568 shares during the quarter. Candriam S.C.A. owned about 0.21% of MasTec worth $28,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of MasTec by 163.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock worth $121,843,000 after purchasing an additional 648,184 shares in the last quarter. Ameriprise Financial Inc. grew its stake in MasTec by 171.2% during the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock worth $45,607,000 after buying an additional 246,666 shares during the last quarter. AQR Capital Management LLC increased its position in MasTec by 23.6% during the first quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock worth $106,234,000 after buying an additional 184,277 shares during the period. Nuveen LLC purchased a new stake in MasTec in the first quarter valued at approximately $21,208,000. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of MasTec by 77.8% in the first quarter. Lord Abbett & CO. LLC now owns 307,419 shares of the construction company’s stock valued at $35,879,000 after acquiring an additional 134,493 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 4.8%

Shares of NYSE MTZ opened at $189.91 on Friday. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 56.19 and a beta of 1.88. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $224.03. The firm has a 50-day moving average price of $202.51 and a 200 day moving average price of $179.35. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer directly owned 184,249 shares in the company, valued at approximately $36,930,869.56. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the sale, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. This trade represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,929 shares of company stock worth $3,394,013 in the last quarter. Company insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MTZ shares. Truist Financial lifted their target price on shares of MasTec from $248.00 to $253.00 and gave the company a “buy” rating in a report on Monday, November 3rd. TD Cowen raised their price objective on shares of MasTec from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MasTec in a report on Wednesday, October 8th. Baird R W raised MasTec from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Finally, Citigroup boosted their price target on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $229.44.

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.