Swedbank AB Has $6.09 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Swedbank AB decreased its position in MasTec, Inc. (NYSE:MTZ) by 12.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 49,500 shares of the construction company’s stock after selling 7,200 shares during the period. Swedbank AB’s holdings in MasTec were worth $6,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Boston Partners acquired a new position in shares of MasTec in the first quarter valued at $748,000. Texas Permanent School Fund Corp raised its stake in shares of MasTec by 8.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after buying an additional 4,716 shares in the last quarter. Makena Capital Management LLC lifted its holdings in shares of MasTec by 41.4% during the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock worth $10,728,000 after acquiring an additional 25,532 shares during the period. XTX Topco Ltd boosted its position in shares of MasTec by 356.7% during the 2nd quarter. XTX Topco Ltd now owns 11,212 shares of the construction company’s stock valued at $1,200,000 after acquiring an additional 8,757 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in MasTec in the second quarter valued at about $2,568,000. Institutional investors own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MTZ shares. KeyCorp raised their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Robert W. Baird boosted their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. DA Davidson upped their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Craig Hallum lifted their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, MasTec has an average rating of “Moderate Buy” and an average target price of $148.62.

Insider Activity

In related news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,823 shares of company stock valued at $5,558,301. Company insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of MasTec stock opened at $144.54 on Thursday. The firm has a 50 day simple moving average of $130.22 and a 200 day simple moving average of $115.68. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market cap of $11.45 billion, a P/E ratio of 129.05 and a beta of 1.70.

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.