Sanctuary Advisors LLC Buys Shares of 4,063 MasTec, Inc. (NYSE:MTZ)

Sanctuary Advisors LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,063 shares of the construction company’s stock, valued at approximately $500,000.

Other large investors have also modified their holdings of the company. Raymond James & Associates grew its position in MasTec by 43.4% in the 2nd quarter. Raymond James & Associates now owns 48,230 shares of the construction company’s stock worth $5,160,000 after purchasing an additional 14,608 shares during the last quarter. Bank of New York Mellon Corp increased its position in MasTec by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,226 shares of the construction company’s stock valued at $52,449,000 after acquiring an additional 11,203 shares during the period. HB Wealth Management LLC acquired a new stake in MasTec in the 2nd quarter valued at approximately $218,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MasTec by 13.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,848 shares of the construction company’s stock valued at $12,395,000 after acquiring an additional 14,015 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in MasTec by 8.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,281 shares of the construction company’s stock worth $351,000 after acquiring an additional 247 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 32,823 shares of company stock valued at $4,619,121 over the last three months. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of NYSE:MTZ opened at $138.42 on Thursday. The company has a market capitalization of $10.97 billion, a PE ratio of 123.59 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. The stock has a fifty day moving average of $135.76 and a 200-day moving average of $119.84. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MTZ shares. Craig Hallum raised their price target on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their target price on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, KeyCorp upped their target price on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.23.

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.