Sen. Markwayne Mullin Buys MasTec, Inc. (NYSE:MTZ) Stock

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of MasTec, Inc. (NYSE:MTZ). In a filing disclosed on January 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in MasTec stock on January 2nd.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of iShares Core MSCI EAFE ETF (BATS:IEFA) on 1/8/2025.
• Sold $15,001 – $50,000 in shares of iShares MSCI Eurozone ETF (BATS:EZU) on 1/8/2025.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 1/8/2025.
• Purchased $15,001 – $50,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Iron Mountain (NYSE:IRM) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Coherent (NYSE:COHR) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Westinghouse Air Brake Technologies (NYSE:WAB) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Dell Technologies (NYSE:DELL) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Applied Industrial Technologies (NYSE:AIT) on 1/2/2025.

MasTec Trading Down 1.1 %

NYSE MTZ opened at $145.33 on Friday. MasTec, Inc. has a 52 week low of $65.67 and a 52 week high of $166.95. The company has a 50 day moving average price of $143.18 and a 200 day moving average price of $127.50. 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 firm has a market cap of $11.52 billion, a PE ratio of 129.76 and a beta of 1.74.

Analysts Set New Price Targets

Several brokerages have recently commented on MTZ. UBS Group increased their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. 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 research report on Thursday, December 19th. Finally, The Goldman Sachs Group lifted their price target on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average target price of $158.57.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of the 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 sale, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This represents 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 at this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, valued at $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. 21.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasTec

A number of hedge funds and other institutional investors have recently made changes to their positions in MTZ. Pacer Advisors Inc. raised 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 worth $278,312,000 after purchasing an additional 895,227 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after buying an additional 289,090 shares during the period. Point72 Asset Management L.P. lifted its position in shares of 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 buying an additional 279,778 shares in the last quarter. Barclays PLC grew its stake in MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after acquiring an additional 209,472 shares during the period. Finally, Van ECK Associates Corp increased its holdings in MasTec by 205.4% in the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after acquiring an additional 190,320 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.