MasTec, Inc. (NYSE:MTZ) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in MasTec, Inc. (NYSE:MTZ) by 95.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,141 shares of the construction company’s stock after selling 592,502 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MasTec were worth $4,078,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. grew its stake in shares of MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after purchasing an additional 895,227 shares in the last quarter. State Street Corp grew its stake in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of MasTec by 57.7% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of NYSE MTZ opened at $132.36 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 118.18 and a beta of 1.73. The business’s 50-day simple moving average is $142.48 and its 200-day simple moving average is $130.49. MasTec, Inc. has a 52 week low of $68.89 and a 52 week high of $166.95.

Insider Activity

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value 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 trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MTZ has been the subject of several research analyst reports. KeyCorp upped their price objective on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Craig Hallum upped their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, B. Riley reissued a “buy” rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average price target of $158.57.

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.