ING Groep NV Cuts Stock Holdings in MasTec, Inc. (NYSE:MTZ)

ING Groep NV decreased its position in MasTec, Inc. (NYSE:MTZ) by 18.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,200 shares of the construction company’s stock after selling 5,300 shares during the quarter. ING Groep NV’s holdings in MasTec were worth $2,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of MasTec in the third quarter valued at approximately $549,000. Lisanti Capital Growth LLC increased its position in shares of MasTec by 31.4% during the third quarter. Lisanti Capital Growth LLC now owns 43,090 shares of the construction company’s stock valued at $5,304,000 after acquiring an additional 10,305 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of MasTec during the third quarter valued at approximately $3,195,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in MasTec by 216.4% during the third quarter. Crossmark Global Holdings Inc. now owns 11,673 shares of the construction company’s stock worth $1,437,000 after acquiring an additional 7,984 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Craig Hallum raised their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. DA Davidson increased their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. TD Cowen raised their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and upped their price objective for the company from $133.00 to $173.00 in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued 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 $148.62.

MasTec Stock Down 1.5 %

Shares of NYSE:MTZ opened at $135.32 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52-week low of $52.74 and a 52-week high of $147.23. The firm has a market capitalization of $10.72 billion, a P/E ratio of 120.82 and a beta of 1.70. The stock has a 50 day moving average price of $125.57 and a 200-day moving average price of $113.57.

About MasTec

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.