Ritholtz Wealth Management Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Ritholtz Wealth Management purchased a new stake in MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,765 shares of the construction company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in MasTec during the third quarter worth about $25,000. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of MasTec during the third quarter worth about $57,000. GAMMA Investing LLC lifted its holdings in shares of MasTec by 39.9% during the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after purchasing an additional 146 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of MasTec in the 3rd quarter valued at approximately $84,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $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 approximately $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. Over the last three months, insiders have sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MTZ has been the topic of several research analyst reports. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Truist Financial raised their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their target price on shares of MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim assumed coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price for the company. Finally, TD Cowen boosted their price target on MasTec from $115.00 to $160.00 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.21.

MasTec Trading Down 1.1 %

Shares of MasTec stock opened at $159.09 on Thursday. MasTec, Inc. has a 12-month low of $60.96 and a 12-month high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $142.40 and its 200-day moving average is $125.48. The stock has a market cap of $12.61 billion, a P/E ratio of 142.05 and a beta of 1.74.

MasTec Company 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.