M&T Bank Corp Boosts Holdings in MasTec, Inc. (NYSE:MTZ)

M&T Bank Corp raised its stake in MasTec, Inc. (NYSE:MTZ) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,614 shares of the construction company’s stock after acquiring an additional 184 shares during the quarter. M&T Bank Corp’s holdings in MasTec were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares during the period. D1 Capital Partners L.P. bought a new stake in shares of MasTec in the second quarter valued at $79,494,000. Hood River Capital Management LLC raised its stake in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after buying an additional 446,762 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus upped their price target on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group boosted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price target on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.00.

MasTec Price Performance

MasTec stock opened at $136.54 on Wednesday. The business has a 50-day simple moving average of $134.73 and a 200 day simple moving average of $118.75. MasTec, Inc. has a 52 week low of $60.96 and a 52 week high of $150.12. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 121.91 and a beta of 1.72. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. The trade was a 0.37 % decrease in their position. 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 stock in a transaction on 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 in the company, valued at approximately $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,823 shares of company stock valued at $7,144,521. 21.30% of the stock is owned by corporate insiders.

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.