Barclays PLC Grows Position in MasTec, Inc. (NYSE:MTZ)

Barclays PLC raised its position in MasTec, Inc. (NYSE:MTZ) by 642.7% during the third quarter, HoldingsChannel.com reports. The firm owned 242,066 shares of the construction company’s stock after purchasing an additional 209,472 shares during the period. Barclays PLC’s holdings in MasTec were worth $29,797,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in shares of MasTec in the second quarter worth approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in MasTec in the second quarter worth $40,000. UMB Bank n.a. lifted its position 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 worth $47,000 after purchasing an additional 120 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of MasTec during the third quarter valued at $57,000. Finally, Blue Trust Inc. boosted its stake in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 0.3 %

NYSE:MTZ opened at $137.78 on Friday. The company’s 50-day simple moving average is $134.53 and its 200-day simple moving average is $118.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a fifty-two week low of $60.96 and a fifty-two week high of $150.12. The stock has a market capitalization of $10.92 billion, a P/E ratio of 123.02 and a beta of 1.72.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 187,202 shares in the company, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, 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. Insiders sold 55,823 shares of company stock valued at $7,493,301 over the last 90 days. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MTZ shares. 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 report on Tuesday, November 5th. Craig Hallum boosted their price target on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird raised their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group upped their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, KeyCorp increased their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.00.

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.