Sheets Smith Wealth Management Trims Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Sheets Smith Wealth Management reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,718 shares of the construction company’s stock after selling 197 shares during the period. Sheets Smith Wealth Management’s holdings in MasTec were worth $2,427,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MTZ. BNP Paribas Financial Markets boosted its position in shares of MasTec by 156.6% in the first quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company’s stock worth $1,805,000 after purchasing an additional 11,816 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of MasTec during the first quarter worth about $463,000. Texas Permanent School Fund Corp raised its stake in MasTec by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock valued at $4,924,000 after purchasing an additional 817 shares during the period. SG Americas Securities LLC lifted its holdings in MasTec by 10.0% in the 1st quarter. SG Americas Securities LLC now owns 6,801 shares of the construction company’s stock worth $634,000 after purchasing an additional 619 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in MasTec in the 1st quarter worth approximately $785,000. 78.10% of the stock is currently owned by institutional investors.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock worth $5,558,301 in the last quarter. 21.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MTZ. KeyCorp boosted their target price on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Robert W. Baird lifted 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. Truist Financial raised shares of MasTec from a “hold” rating to a “buy” rating and increased their price objective for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, UBS Group raised their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Up 2.4 %

Shares of NYSE:MTZ opened at $144.89 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50 day simple moving average of $122.03 and a two-hundred day simple moving average of $111.77. MasTec, Inc. has a 1 year low of $47.02 and a 1 year high of $145.74. The firm has a market capitalization of $11.48 billion, a PE ratio of 129.37 and a beta of 1.70.

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.