MasTec, Inc. (NYSE:MTZ) Position Decreased by Swedbank AB

Swedbank AB decreased its holdings in MasTec, Inc. (NYSE:MTZ) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,500 shares of the construction company’s stock after selling 7,200 shares during the quarter. Swedbank AB owned 0.06% of MasTec worth $6,093,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in shares of MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after acquiring an additional 895,227 shares during the last quarter. Hood River Capital Management LLC increased its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after purchasing an additional 446,762 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in MasTec in the 2nd quarter worth about $79,494,000. Marshall Wace LLP lifted its stake in MasTec by 4.3% during the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after buying an additional 29,631 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after buying an additional 7,469 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Down 2.3 %

Shares of NYSE:MTZ opened at $144.54 on Thursday. MasTec, Inc. has a 1 year low of $54.06 and a 1 year high of $150.12. The firm has a fifty day moving average price of $130.22 and a 200 day moving average price of $115.68. 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 stock has a market capitalization of $11.45 billion, a PE ratio of 129.05 and a beta of 1.70.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,823 shares of company stock valued at $5,558,301. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MTZ shares. KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. B. Riley reiterated a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Craig Hallum increased their price objective on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

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.