Pathstone Holdings LLC Trims Holdings in MasTec, Inc. (NYSE:MTZ)

Pathstone Holdings LLC lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 8.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,843 shares of the construction company’s stock after selling 2,449 shares during the period. Pathstone Holdings LLC’s holdings in MasTec were worth $3,181,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC purchased a new position in shares of MasTec during the second quarter worth $27,000. DekaBank Deutsche Girozentrale purchased a new position in MasTec during the 2nd quarter valued at about $40,000. GAMMA Investing LLC grew its position in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares in the last quarter. UMB Bank n.a. increased its stake in 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 period. Finally, Blue Trust Inc. lifted its position in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of NYSE MTZ opened at $142.15 on Monday. The stock’s 50-day simple moving average is $129.00 and its 200-day simple moving average is $115.13. The firm has a market capitalization of $11.26 billion, a PE ratio of 126.92 and a beta of 1.70. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $147.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MTZ shares. Robert W. Baird upped their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Craig Hallum boosted their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup increased 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. B. Riley reissued a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, TD Cowen increased their price target on MasTec from $115.00 to $160.00 and gave the company a “buy” 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $148.62.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction 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. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 over the last three months. Insiders own 21.30% of the company’s stock.

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.