Concurrent Investment Advisors LLC Has $665,000 Stock Position in MasTec, Inc. (NYSE:MTZ)

Concurrent Investment Advisors LLC reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,884 shares of the construction company’s stock after selling 132 shares during the period. Concurrent Investment Advisors LLC’s holdings in MasTec were worth $665,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System raised its holdings in MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of MasTec by 45.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after acquiring an additional 8,948 shares in the last quarter. Atom Investors LP grew its stake in shares of MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after acquiring an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 13,241 shares in the last quarter. Finally, State Street Corp grew its stake in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Guggenheim assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target for the company. Robert W. Baird raised their price target on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, TD Cowen raised their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.57.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

MasTec Trading Down 4.8 %

MTZ stock opened at $126.35 on Monday. 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 fifty day moving average price of $142.25 and a two-hundred day moving average price of $131.03. MasTec, Inc. has a one year low of $69.80 and a one year high of $166.95. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73.

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.