Community Trust & Investment Co. Sells 22,224 Shares of MasTec, Inc. (NYSE:MTZ)

Community Trust & Investment Co. reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 12.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 161,093 shares of the construction company’s stock after selling 22,224 shares during the quarter. MasTec makes up approximately 1.4% of Community Trust & Investment Co.’s investment portfolio, making the stock its 22nd largest position. Community Trust & Investment Co.’s holdings in MasTec were worth $21,931,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MTZ. Pacer Advisors Inc. raised its stake in shares of MasTec by 15,067.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares during the period. D1 Capital Partners L.P. bought a new position in MasTec during the second quarter valued at $79,494,000. Hood River Capital Management LLC increased its position in MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of MasTec by 266.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec 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 completion of the transaction, the chief operating officer now owns 187,202 shares in the company, valued at approximately $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is currently owned by insiders.

MasTec Price Performance

MTZ stock opened at $150.66 on Wednesday. The firm has a 50 day simple moving average of $140.64 and a two-hundred day simple moving average of $123.35. MasTec, Inc. has a one year low of $60.96 and a one year high of $152.84. 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 stock has a market cap of $11.94 billion, a PE ratio of 134.52 and a beta of 1.74.

Analyst Upgrades and Downgrades

MTZ has been the subject of several recent research reports. Robert W. Baird lifted their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group boosted their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup increased their target price on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $155.07.

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.