Sen. Markwayne Mullin Buys MasTec, Inc. (NYSE:MTZ) Shares

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of MasTec, Inc. (NYSE:MTZ). In a filing disclosed on January 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in MasTec stock on January 2nd.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of iShares Core MSCI EAFE ETF (BATS:IEFA) on 1/8/2025.
• Sold $15,001 – $50,000 in shares of iShares MSCI Eurozone ETF (BATS:EZU) on 1/8/2025.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 1/8/2025.
• Purchased $15,001 – $50,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Iron Mountain (NYSE:IRM) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Coherent (NYSE:COHR) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Westinghouse Air Brake Technologies (NYSE:WAB) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Dell Technologies (NYSE:DELL) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Applied Industrial Technologies (NYSE:AIT) on 1/2/2025.

MasTec Stock Performance

Shares of NYSE MTZ opened at $145.33 on Friday. MasTec, Inc. has a 52-week low of $65.67 and a 52-week high of $166.95. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 129.76 and a beta of 1.74. 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’s fifty day simple moving average is $143.18 and its 200 day simple moving average is $127.35.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were 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 of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Craig Hallum lifted their price target on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group increased their price objective on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lifted their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $158.57.

Hedge Funds Weigh In On MasTec

Hedge funds have recently made changes to their positions in the business. Ameliora Wealth Management Ltd. acquired a new position in MasTec in the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec in the 3rd quarter valued at approximately $25,000. Global Retirement Partners LLC raised its holdings in shares of MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after buying an additional 190 shares in the last quarter. R Squared Ltd bought a new position in shares of MasTec during the 4th quarter worth approximately $44,000. Finally, UMB Bank n.a. boosted its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.