M&T Bank Corp Acquires 184 Shares of MasTec, Inc. (NYSE:MTZ)

M&T Bank Corp lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,614 shares of the construction company’s stock after purchasing an additional 184 shares during the period. M&T Bank Corp’s holdings in MasTec were worth $445,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. boosted its position in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. bought a new stake in shares of MasTec in the 2nd quarter valued at about $79,494,000. Hood River Capital Management LLC boosted its holdings in MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares during the period. Jacobs Levy Equity Management Inc. grew its position in MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after acquiring an additional 289,090 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MTZ shares. TD Cowen increased their price objective on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. B. Riley restated a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and increased their target price for the stock from $133.00 to $173.00 in a report on Tuesday, November 5th. Finally, KeyCorp boosted their price target on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two equities research 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $149.00.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This trade represents a 0.37 % decrease in their position. The sale 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 company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,823 shares of company stock worth $7,144,521 over the last ninety days. 21.30% of the stock is owned by corporate insiders.

MasTec Stock Down 2.3 %

MTZ stock opened at $136.54 on Wednesday. MasTec, Inc. has a fifty-two week low of $60.96 and a fifty-two week high of $150.12. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 121.91 and a beta of 1.72. The business’s 50 day moving average price is $134.73 and its two-hundred day moving average price is $118.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

About MasTec

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.