Cetera Trust Company N.A Decreases Stake in MasTec, Inc. (NYSE:MTZ)

Cetera Trust Company N.A lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,860 shares of the construction company’s stock after selling 75 shares during the period. Cetera Trust Company N.A’s holdings in MasTec were worth $389,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of MasTec by 65.6% during the 3rd 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 during the period. State Street Corp boosted its holdings in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares in the last quarter. Geode Capital Management LLC grew its position in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after buying an additional 16,844 shares during the period. Point72 Asset Management L.P. increased its holdings in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after acquiring an additional 29,631 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of research analyst reports. Guggenheim started coverage on MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup increased their price target on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Craig Hallum increased 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. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.07.

MasTec Stock Up 2.4 %

Shares of NYSE:MTZ opened at $164.66 on Wednesday. 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 firm has a market cap of $13.05 billion, a price-to-earnings ratio of 146.75 and a beta of 1.74. The stock’s 50-day moving average price is $142.01 and its two-hundred day moving average price is $125.25. MasTec, Inc. has a 12-month low of $60.96 and a 12-month high of $161.20.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on 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 directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,023 shares of company stock worth $4,515,089 in the last three months. Company insiders own 21.30% of the company’s stock.

MasTec 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.