Atria Investments Inc Buys New Stake in MasTec, Inc. (NYSE:MTZ)

Atria Investments Inc purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,453 shares of the construction company’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Verdence Capital Advisors LLC bought a new stake in shares of MasTec during the third quarter valued at about $203,000. Capital Performance Advisors LLP bought a new stake in shares of MasTec during the 3rd quarter worth about $95,000. Moloney Securities Asset Management LLC acquired a new stake in shares of MasTec in the 3rd quarter worth approximately $1,024,000. Forum Financial Management LP bought a new position in shares of MasTec in the third quarter valued at approximately $201,000. Finally, Van ECK Associates Corp boosted its holdings in shares of MasTec by 205.4% in the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after acquiring an additional 190,320 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and upped their price objective for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen boosted their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, KeyCorp upped their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Stock Performance

MasTec stock opened at $142.15 on Friday. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $147.23. The firm’s 50 day simple moving average is $128.40 and its 200-day simple moving average is $114.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market cap of $11.26 billion, a P/E ratio of 127.54 and a beta of 1.70.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company’s stock.

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.