MasTec, Inc. (NYSE:MTZ) Stake Raised by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 285.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,151 shares of the construction company’s stock after purchasing an additional 17,144 shares during the period. Cerity Partners LLC’s holdings in MasTec were worth $2,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after buying an additional 82 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after acquiring an additional 100 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after acquiring an additional 101 shares during the last quarter. UMB Bank n.a. raised 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 period. Finally, Blue Trust Inc. lifted its holdings 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 last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. Robert W. Baird boosted their price target on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group raised their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial raised 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 note on Tuesday, November 5th. Finally, Craig Hallum raised their target price on MasTec from $125.00 to $150.00 and gave the stock 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Stock Down 0.3 %

MTZ opened at $144.06 on Friday. The company has a market capitalization of $11.41 billion, a PE ratio of 128.63 and a beta of 1.70. The business has a 50-day moving average of $131.53 and a 200-day moving average of $116.34. MasTec, Inc. has a fifty-two week low of $57.38 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the company’s 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 of the company’s stock, valued at approximately $27,426,096.54. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,823 shares of company stock valued at $7,493,301. 21.30% of the stock is currently owned by corporate insiders.

MasTec Company 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.