Virtu Financial LLC Invests $254,000 in MasTec, Inc. (NYSE:MTZ)

Virtu Financial LLC bought a new stake in MasTec, Inc. (NYSE:MTZ) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,066 shares of the construction company’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after buying an additional 895,227 shares in the last quarter. State Street Corp lifted its stake in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares during the period. Geode Capital Management LLC lifted its stake 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 purchasing an additional 16,844 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares in the company, valued at $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 available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 52,823 shares of company stock valued at $7,144,521 over the last quarter. Company insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MTZ shares. JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. KeyCorp raised their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, TD Cowen boosted their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $149.00.

MasTec Stock Down 2.3 %

MasTec stock opened at $136.54 on Wednesday. The company has a market capitalization of $10.82 billion, a P/E ratio of 121.91 and a beta of 1.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a fifty-two week low of $60.96 and a fifty-two week high of $150.12. The stock has a 50-day simple moving average of $134.73 and a 200-day simple moving average of $118.75.

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.