32,036 Shares in MasTec, Inc. (NYSE:MTZ) Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in MasTec, Inc. (NYSE:MTZ) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 32,036 shares of the construction company’s stock, valued at approximately $3,944,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in MasTec by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company’s stock valued at $4,059,000 after acquiring an additional 1,905 shares during the period. Tidal Investments LLC raised its position in shares of MasTec by 132.4% in the first quarter. Tidal Investments LLC now owns 7,862 shares of the construction company’s stock valued at $733,000 after purchasing an additional 4,479 shares during the period. Comerica Bank lifted its stake in shares of MasTec by 1.9% during the 1st quarter. Comerica Bank now owns 26,824 shares of the construction company’s stock worth $2,501,000 after buying an additional 498 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of MasTec during the 1st quarter worth about $268,000. Finally, Boston Partners acquired a new position in MasTec in the 1st quarter valued at about $748,000. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on MTZ shares. The Goldman Sachs Group increased their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial raised MasTec from a “hold” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $173.00 in a report on Tuesday, November 5th. KeyCorp upped their price objective on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. initiated coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. Finally, B. Riley reissued a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. 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 MarketBeat, MasTec has an average rating of “Moderate Buy” and an average price target of $148.62.

Insider Buying and Selling at MasTec

In related news, 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 transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 8.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’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 sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,823 shares of company stock worth $7,493,301 over the last three months. Corporate insiders own 21.30% of the company’s stock.

MasTec Trading Down 1.4 %

MTZ opened at $142.04 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 126.82 and a beta of 1.70. The company has a 50-day simple moving average of $131.87 and a 200 day simple moving average of $116.72. MasTec, Inc. has a twelve month low of $60.96 and a twelve month high of $150.12.

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.