Swedbank AB Purchases 27,200 Shares of MasTec, Inc. $MTZ

Swedbank AB boosted its position in MasTec, Inc. (NYSE:MTZ) by 80.2% during the 3rd quarter, Holdings Channel reports. The fund owned 61,100 shares of the construction company’s stock after buying an additional 27,200 shares during the period. Swedbank AB’s holdings in MasTec were worth $13,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Trust Co acquired a new position in shares of MasTec during the second quarter worth approximately $29,000. Parkside Financial Bank & Trust increased its stake in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after purchasing an additional 137 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in MasTec during the second quarter worth $35,000. Evelyn Partners Asset Management Ltd bought a new position in shares of MasTec in the second quarter valued at $43,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of MasTec during the third quarter valued at about $43,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MasTec stock opened at $224.40 on Friday. The business’s fifty day simple moving average is $209.68 and its 200 day simple moving average is $192.79. The firm has a market capitalization of $17.70 billion, a P/E ratio of 53.30 and a beta of 1.94. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $233.14. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MTZ shares. Wolfe Research raised shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Wednesday, September 17th. Jefferies Financial Group raised their target price on MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. UBS Group lifted their target price on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Robert W. Baird raised their price objective on MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, MasTec has an average rating of “Moderate Buy” and a consensus target price of $232.06.

Insiders Place Their Bets

In related news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of the 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 transaction, the director owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. The trade was a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 21.30% of the company’s stock.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.