ING Groep NV Acquires 55,000 Shares of MasTec, Inc. (NYSE:MTZ)

ING Groep NV raised its holdings in MasTec, Inc. (NYSE:MTZ) by 227.3% in the 4th quarter, HoldingsChannel reports. The firm owned 79,200 shares of the construction company’s stock after purchasing an additional 55,000 shares during the quarter. ING Groep NV’s holdings in MasTec were worth $10,782,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. bought a new position in MasTec in the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the 3rd quarter valued at $25,000. Global Retirement Partners LLC increased its stake in shares of MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after buying an additional 190 shares during the period. R Squared Ltd acquired a new stake in shares of MasTec in the 4th quarter valued at $44,000. Finally, True Wealth Design LLC acquired a new stake in shares of MasTec in the 3rd quarter valued at $57,000. Institutional investors own 78.10% of the company’s stock.

Insider Activity

In other news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated 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 owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

MTZ has been the subject of several research reports. KeyCorp lifted their target price on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their price objective on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. TD Cowen lifted their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird lifted their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.57.

MasTec Stock Down 2.1 %

NYSE:MTZ opened at $132.36 on Friday. MasTec, Inc. has a 1 year low of $68.89 and a 1 year high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 118.18 and a beta of 1.73. The stock has a 50-day moving average price of $142.48 and a two-hundred day moving average price of $130.49.

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.