MasTec, Inc. $MTZ Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lowered its position in MasTec, Inc. (NYSE:MTZ) by 31.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,000 shares of the construction company’s stock after selling 29,000 shares during the quarter. Raiffeisen Bank International AG owned approximately 0.08% of MasTec worth $12,992,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MTZ. L & S Advisors Inc purchased a new stake in shares of MasTec during the 3rd quarter worth $3,376,000. Hodges Capital Management Inc. lifted its holdings in MasTec by 6.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 28,749 shares of the construction company’s stock worth $6,118,000 after buying an additional 1,721 shares during the last quarter. First National Bank of Omaha purchased a new position in shares of MasTec in the 3rd quarter valued at about $5,444,000. Crestwood Advisors Group LLC increased its holdings in shares of MasTec by 3.1% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,738 shares of the construction company’s stock valued at $370,000 after acquiring an additional 53 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of MasTec during the 3rd quarter worth about $253,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of NYSE MTZ opened at $283.58 on Friday. 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 stock has a fifty day moving average price of $239.09 and a 200 day moving average price of $212.66. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $284.68. The company has a market cap of $22.38 billion, a PE ratio of 67.36 and a beta of 1.94.

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of research analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $264.00 price target on shares of MasTec in a report on Wednesday, January 7th. Cantor Fitzgerald began coverage on shares of MasTec in a report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 target price for the company. Mizuho set a $254.00 price target on shares of MasTec in a research note on Monday, November 3rd. Truist Financial upped their price objective on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Finally, Robert W. Baird raised their price objective on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Two 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.com, MasTec presently has a consensus 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.