Vontobel Holding Ltd. Reduces Stake in MasTec, Inc. (NYSE:MTZ)

Vontobel Holding Ltd. cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,090 shares of the construction company’s stock after selling 158,303 shares during the period. Vontobel Holding Ltd. owned 0.47% of MasTec worth $50,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc grew its stake in MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after acquiring an additional 82 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after purchasing an additional 94 shares during the period. New York State Teachers Retirement System grew its stake in MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after purchasing an additional 100 shares in the last quarter. Victory Capital Management Inc. increased its holdings in MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares during the period. Finally, UMB Bank n.a. raised its position in MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after purchasing an additional 113 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MTZ shares. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. TD Cowen increased their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. UBS Group boosted their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, B. Riley reissued a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.57.

MasTec Stock Down 0.9 %

NYSE:MTZ opened at $136.85 on Friday. 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 company’s fifty day moving average price is $142.76 and its 200-day moving average price is $129.46. MasTec, Inc. has a 1-year low of $68.68 and a 1-year high of $166.95. The firm has a market capitalization of $10.84 billion, a P/E ratio of 122.18 and a beta of 1.73.

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.