MasTec, Inc. (NYSE:MTZ) Shares Bought by Atom Investors LP

Atom Investors LP grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 979.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,018 shares of the construction company’s stock after purchasing an additional 55,363 shares during the period. MasTec makes up about 0.8% of Atom Investors LP’s holdings, making the stock its 23rd largest holding. Atom Investors LP’s holdings in MasTec were worth $7,511,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of 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 acquiring an additional 82 shares during the period. New York State Teachers Retirement System increased its position in shares of MasTec by 0.4% during the third 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 during the period. Victory Capital Management Inc. increased its position in shares of MasTec by 0.8% during the third 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 period. UMB Bank n.a. increased 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 acquiring an additional 120 shares during the period. Finally, Blue Trust Inc. increased its position in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after acquiring an additional 138 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

NYSE MTZ opened at $144.06 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1 year low of $57.38 and a 1 year high of $150.12. The company has a market capitalization of $11.42 billion, a PE ratio of 128.63 and a beta of 1.70. The company has a fifty day moving average of $131.53 and a two-hundred day moving average of $116.47.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction 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 in the company, valued at $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,823 shares of company stock worth $7,493,301 over the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of recent research reports. TD Cowen upped their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. The Goldman Sachs Group increased their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their target price on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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 report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $148.62.

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.