MasTec, Inc. $MTZ Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in MasTec, Inc. (NYSE:MTZ) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,256 shares of the construction company’s stock after selling 2,546 shares during the period. Rhumbline Advisers’ holdings in MasTec were worth $35,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MTZ. Brighton Jones LLC purchased a new position in shares of MasTec during the 4th quarter worth approximately $227,000. NewEdge Advisors LLC boosted its stake in shares of MasTec by 32.6% in the first quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after buying an additional 1,083 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in MasTec during the second quarter worth $271,000. Blair William & Co. IL purchased a new position in MasTec in the second quarter worth $252,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in MasTec by 15.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,837 shares of the construction company’s stock valued at $995,000 after acquiring an additional 760 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 1.7%

MTZ stock opened at $269.88 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. The company’s 50 day simple moving average is $234.33 and its 200-day simple moving average is $209.74. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $276.79. The firm has a market capitalization of $21.29 billion, a PE ratio of 64.11 and a beta of 1.94.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of recent analyst reports. Mizuho set a $254.00 price target on shares of MasTec in a research note on Monday, November 3rd. Wall Street Zen lowered shares of MasTec from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial increased their target price on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. KeyCorp reissued an “overweight” rating and set a $264.00 price target on shares of MasTec in a research note on Wednesday, January 7th. Finally, Stifel Nicolaus upped their price target on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of “Buy” and a consensus target price of $238.16.

About MasTec

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.