MasTec, Inc. (NYSE:MTZ) Shares Sold by Versor Investments LP

Versor Investments LP lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 26.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,709 shares of the construction company’s stock after selling 1,308 shares during the quarter. Versor Investments LP’s holdings in MasTec were worth $457,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MTZ. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the 2nd quarter valued at about $27,000. DekaBank Deutsche Girozentrale bought a new position in MasTec in the second quarter worth about $40,000. GAMMA Investing LLC boosted its stake in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares during the period. UMB Bank n.a. grew its holdings in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the period. Institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MTZ shares. TD Cowen upped their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and lifted their price objective for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. B. Riley restated a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, Robert W. Baird lifted their price target on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.62.

Insider Transactions at MasTec

In other 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 sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 20,000 shares of the business’s 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 directly 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. Insiders have sold 42,823 shares of company stock valued at $5,558,301 in the last quarter. Insiders own 21.30% of the company’s stock.

MasTec Price Performance

NYSE:MTZ opened at $137.40 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $124.81 and its 200 day moving average price is $113.08. MasTec, Inc. has a 52-week low of $52.19 and a 52-week high of $147.23. The firm has a market cap of $10.89 billion, a P/E ratio of 122.68 and a beta of 1.70.

MasTec 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.