Rhumbline Advisers Cuts Position in MasTec, Inc. (NYSE:MTZ)

Rhumbline Advisers trimmed its position in MasTec, Inc. (NYSE:MTZ) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,364 shares of the construction company’s stock after selling 3,000 shares during the quarter. Rhumbline Advisers owned 0.21% of MasTec worth $23,057,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in shares of MasTec by 21.7% in the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after purchasing an additional 5,750 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of MasTec by 8.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 40,981 shares of the construction company’s stock worth $5,562,000 after purchasing an additional 3,281 shares during the period. Legato Capital Management LLC raised its holdings in shares of MasTec by 14.0% during the 4th quarter. Legato Capital Management LLC now owns 17,524 shares of the construction company’s stock valued at $2,386,000 after buying an additional 2,155 shares during the period. Entropy Technologies LP purchased a new stake in shares of MasTec during the 4th quarter valued at about $1,301,000. Finally, BayBridge Capital Group LLC purchased a new stake in shares of MasTec during the 4th quarter valued at about $423,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of MTZ opened at $132.36 on Friday. 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 stock has a 50 day moving average of $142.48 and a 200-day moving average of $130.49. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $68.89 and a 52 week high of $166.95.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 42,478 shares in the company, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MTZ shares. KeyCorp raised their target price on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Stifel Nicolaus raised their target price on MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. Truist Financial raised 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. Finally, Craig Hallum lifted their price objective on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.57.

MasTec Company 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.