MasTec, Inc. (NYSE:MTZ) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,952,033 shares of the construction company’s stock after selling 33,725 shares during the period. Nordea Investment Management AB owned approximately 2.46% of MasTec worth $265,359,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Natixis Advisors LLC acquired a new position in shares of MasTec in the second quarter valued at about $1,256,000. CIBC Asset Management Inc purchased a new position in MasTec during the 2nd quarter worth approximately $235,000. Arizona State Retirement System lifted its stake in MasTec by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 17,756 shares of the construction company’s stock valued at $1,900,000 after acquiring an additional 426 shares during the period. Savant Capital LLC purchased a new stake in shares of MasTec in the 2nd quarter valued at $1,590,000. Finally, Caprock Group LLC purchased a new position in shares of MasTec during the second quarter worth $283,000. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of MasTec stock opened at $146.69 on Monday. The stock has a market capitalization of $11.62 billion, a P/E ratio of 130.97 and a beta of 1.74. The business has a 50 day simple moving average of $137.86 and a two-hundred day simple moving average of $121.42. MasTec, Inc. has a 12 month low of $60.96 and a 12 month high of $150.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s 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 completion of the sale, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,023 shares of company stock worth $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MTZ shares. Truist Financial upped their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. TD Cowen raised their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. UBS Group lifted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price target on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.