MasTec, Inc. $MTZ Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,314 shares of the construction company’s stock after selling 2,174 shares during the period. Mutual of America Capital Management LLC’s holdings in MasTec were worth $6,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTZ. Versant Capital Management Inc raised its position in shares of MasTec by 4.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock worth $232,000 after buying an additional 51 shares in the last quarter. Rothschild Investment LLC increased its stake in shares of MasTec by 22.5% during the second quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock valued at $58,000 after acquiring an additional 62 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in MasTec by 4.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock worth $453,000 after purchasing an additional 91 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in MasTec by 4.9% in the second quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock worth $338,000 after purchasing an additional 93 shares during the period. Finally, Salomon & Ludwin LLC boosted its stake in MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.30% of the company’s stock.

MasTec Trading Down 1.4%

MasTec stock opened at $245.13 on Thursday. MasTec, Inc. has a one year low of $99.70 and a one year high of $250.99. The company’s fifty day moving average price is $223.72 and its two-hundred day moving average price is $203.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 58.23 and a beta of 1.91.

Analyst Ratings Changes

Several research analysts recently weighed in on MTZ shares. KeyCorp reaffirmed an “overweight” rating and set a $264.00 target price on shares of MasTec in a research note on Wednesday, January 7th. Guggenheim restated a “neutral” rating and set a $215.00 price objective on shares of MasTec in a research report on Wednesday, October 15th. UBS Group lifted their price objective on shares of MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Finally, Citigroup lifted their price target on shares of MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $238.16.

MasTec Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.