MasTec, Inc. $MTZ Shares Sold by Country Trust Bank

Country Trust Bank cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 28.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 193,337 shares of the construction company’s stock after selling 78,087 shares during the quarter. Country Trust Bank’s holdings in MasTec were worth $41,144,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc grew its position in MasTec by 4.9% during the third quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock valued at $232,000 after acquiring an additional 51 shares during the period. Rothschild Investment LLC lifted its stake in shares of MasTec by 22.5% in the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock valued at $58,000 after purchasing an additional 62 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of MasTec by 37.1% during the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after purchasing an additional 82 shares during the period. Fifth Third Wealth Advisors LLC increased its position in MasTec by 4.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock worth $453,000 after purchasing an additional 91 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in MasTec by 4.9% in the second quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after buying an additional 93 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Up 4.3%

Shares of MasTec stock opened at $235.82 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $239.82. The business has a 50-day moving average of $215.19 and a 200-day moving average of $198.67. The company has a market capitalization of $18.61 billion, a PE ratio of 56.01 and a beta of 1.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Guggenheim reissued a “neutral” rating and issued a $215.00 price objective on shares of MasTec in a research report on Wednesday, October 15th. Jefferies Financial Group upped their target price on MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, KeyCorp reiterated an “overweight” rating and issued a $264.00 target price on shares of MasTec in a research note on Wednesday, January 7th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of “Buy” and a consensus price target of $233.06.

Insider Transactions at MasTec

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 21.30% of the stock is owned by corporate insiders.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.