Exchange Traded Concepts LLC Purchases 13,241 Shares of MasTec, Inc. (NYSE:MTZ)

Exchange Traded Concepts LLC boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 286.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,871 shares of the construction company’s stock after acquiring an additional 13,241 shares during the quarter. Exchange Traded Concepts LLC’s holdings in MasTec were worth $2,433,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec during the 3rd quarter worth $25,000. UMB Bank n.a. increased its position in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. True Wealth Design LLC acquired a new position in MasTec during the third quarter worth $57,000. GAMMA Investing LLC raised its holdings in MasTec by 39.9% during the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after buying an additional 146 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of MasTec in the third quarter worth about $84,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Trading Down 0.4 %

MasTec stock opened at $159.50 on Friday. The business has a 50 day moving average price of $143.34 and a two-hundred day moving average price of $126.29. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12 month low of $63.97 and a 12 month high of $166.95. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 142.41 and a beta of 1.74.

Analyst Ratings Changes

A number of brokerages have recently commented on MTZ. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. started coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Guggenheim assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group boosted their target price on shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.21.

Insider Activity

In other MasTec news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the sale, the chief operating officer now owns 197,202 shares in the company, valued at $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The transaction 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 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 transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,023 shares of company stock worth $4,515,089. Company insiders own 21.30% of the company’s stock.

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.