MasTec, Inc. (NYSE:MTZ) Shares Purchased by Atom Investors LP

Atom Investors LP lifted its holdings in MasTec, Inc. (NYSE:MTZ) by 979.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,018 shares of the construction company’s stock after purchasing an additional 55,363 shares during the quarter. MasTec comprises about 0.8% of Atom Investors LP’s portfolio, making the stock its 23rd biggest position. Atom Investors LP owned approximately 0.08% of MasTec worth $7,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MTZ. Hobbs Group Advisors LLC acquired a new stake in MasTec during the 2nd quarter worth about $27,000. DekaBank Deutsche Girozentrale acquired a new stake in MasTec during the 2nd quarter worth about $40,000. GAMMA Investing LLC lifted its position in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the period. UMB Bank n.a. lifted its position in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares during the period. Finally, True Wealth Design LLC acquired a new stake in MasTec during the 3rd quarter worth about $57,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,823 shares of company stock worth $7,493,301 in the last ninety days. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. B. Riley reaffirmed a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial upgraded 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 note on Tuesday, November 5th. Craig Hallum lifted their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup lifted their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Price Performance

NYSE:MTZ opened at $144.06 on Monday. MasTec, Inc. has a 12 month low of $57.38 and a 12 month high of $150.12. The stock has a 50 day moving average of $131.53 and a two-hundred day moving average of $116.47. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a market cap of $11.42 billion, a P/E ratio of 128.63 and a beta of 1.70.

MasTec Company 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.