Avior Wealth Management LLC Decreases Position in MasTec, Inc. (NYSE:MTZ)

Avior Wealth Management LLC cut its position in MasTec, Inc. (NYSE:MTZ) by 40.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 421 shares of the construction company’s stock after selling 281 shares during the quarter. Avior Wealth Management LLC’s holdings in MasTec were worth $52,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new position in MasTec in the second quarter worth about $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec in the second quarter worth approximately $40,000. GAMMA Investing LLC grew its stake in shares of MasTec by 64.9% in the second 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. grew its stake in shares of MasTec by 46.3% in the third 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, Blue Trust Inc. grew its stake in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after acquiring an additional 138 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MTZ. Citigroup lifted their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and boosted their target price for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. Finally, Robert W. Baird boosted their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.62.

MasTec Price Performance

Shares of NYSE:MTZ opened at $142.15 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1-year low of $54.06 and a 1-year high of $147.23. The company has a market capitalization of $11.26 billion, a P/E ratio of 126.92 and a beta of 1.70. The firm’s 50 day simple moving average is $129.00 and its two-hundred day simple moving average is $115.13.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is currently owned by corporate insiders.

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.