Mirae Asset Global Investments Co. Ltd. Has $1.21 Million Holdings in MasTec, Inc. (NYSE:MTZ)

Mirae Asset Global Investments Co. Ltd. lifted its stake in MasTec, Inc. (NYSE:MTZ) by 1,205.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,940 shares of the construction company’s stock after buying an additional 8,255 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MasTec were worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its position in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after acquiring an additional 82 shares during the period. Coldstream Capital Management Inc. lifted its position in MasTec by 2.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after purchasing an additional 94 shares during the period. New York State Teachers Retirement System grew its stake in MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after buying an additional 100 shares in the last quarter. Victory Capital Management Inc. increased its holdings in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after buying an additional 101 shares during the period. Finally, UMB Bank n.a. increased its holdings in MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares in the company, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction 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 of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

MasTec Stock Performance

Shares of MTZ opened at $140.41 on Wednesday. The firm’s fifty day simple moving average is $142.87 and its two-hundred day simple moving average is $129.40. MasTec, Inc. has a 12 month low of $68.68 and a 12 month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.13 billion, a P/E ratio of 125.37 and a beta of 1.73.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen increased 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. Citigroup lifted their price target on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial boosted their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Craig Hallum raised their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.