Versor Investments LP Sells 2,810 Shares of MasTec, Inc. $MTZ

Versor Investments LP trimmed its position in MasTec, Inc. (NYSE:MTZ) by 51.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,667 shares of the construction company’s stock after selling 2,810 shares during the quarter. Versor Investments LP’s holdings in MasTec were worth $568,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in MasTec by 92.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock valued at $13,981,000 after purchasing an additional 31,218 shares during the last quarter. Bridge City Capital LLC increased its stake in shares of MasTec by 27.2% in the second quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after buying an additional 10,565 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of MasTec by 14.9% in the third quarter. Thrivent Financial for Lutherans now owns 16,593 shares of the construction company’s stock valued at $3,531,000 after buying an additional 2,158 shares during the last quarter. Schroder Investment Management Group acquired a new position in MasTec during the 2nd quarter worth about $12,366,000. Finally, Marco Investment Management LLC lifted its position in MasTec by 28.2% during the 3rd quarter. Marco Investment Management LLC now owns 31,605 shares of the construction company’s stock worth $6,726,000 after buying an additional 6,955 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

MTZ opened at $264.21 on Thursday. The company has a fifty day moving average price of $232.41 and a two-hundred day moving average price of $208.63. The firm has a market capitalization of $20.85 billion, a PE ratio of 62.76 and a beta of 1.94. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $276.79. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33.

Analyst Upgrades and Downgrades

MTZ has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. raised their price target on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Cantor Fitzgerald began coverage on MasTec in a report on Friday, January 23rd. They set an “overweight” rating and a $274.00 price objective on the stock. Truist Financial increased their price objective on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, Guggenheim reissued a “neutral” rating and issued a $215.00 target price on shares of MasTec in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $238.16.

MasTec Company 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.