Crossmark Global Holdings Inc. Grows Position in MasTec, Inc. (NYSE:MTZ)

Crossmark Global Holdings Inc. raised its holdings in MasTec, Inc. (NYSE:MTZ) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,397 shares of the construction company’s stock after acquiring an additional 724 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in MasTec were worth $1,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. CIBC Asset Management Inc raised its holdings in shares of MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after acquiring an additional 82 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after acquiring an additional 94 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after acquiring an additional 100 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after acquiring an additional 101 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after acquiring an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ stock opened at $160.08 on Friday. The firm has a market cap of $12.68 billion, a P/E ratio of 142.93 and a beta of 1.74. MasTec, Inc. has a fifty-two week low of $62.87 and a fifty-two week high of $166.95. The business’s 50 day moving average price is $142.40 and its 200-day moving average price is $125.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value 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. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTZ. The Goldman Sachs Group raised their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. B. Riley reissued a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. KeyCorp raised their price objective on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Truist Financial raised 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. Finally, TD Cowen raised their price objective on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.21.

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.