Assenagon Asset Management S.A. Cuts Stock Holdings in MasTec, Inc. $MTZ

Assenagon Asset Management S.A. lessened its stake in MasTec, Inc. (NYSE:MTZ) by 29.9% during the third quarter, Holdings Channel reports. The firm owned 197,097 shares of the construction company’s stock after selling 84,074 shares during the period. Assenagon Asset Management S.A.’s holdings in MasTec were worth $41,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in MasTec by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock valued at $1,017,858,000 after acquiring an additional 234,594 shares during the last quarter. Hill City Capital LP raised its holdings in shares of MasTec by 0.7% in the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company’s stock worth $250,343,000 after purchasing an additional 15,000 shares during the period. Invesco Ltd. lifted its stake in shares of MasTec by 6.1% in the 2nd quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after purchasing an additional 102,072 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of MasTec by 8.9% during the 2nd quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after purchasing an additional 138,269 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in MasTec by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock worth $142,331,000 after purchasing an additional 39,622 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on MTZ. KeyCorp boosted their price objective on shares of MasTec from $236.00 to $246.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Robert W. Baird lifted their target price on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Citigroup increased their price target on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Truist Financial raised their price objective on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $232.06.

MasTec Stock Up 2.1%

Shares of MasTec stock opened at $213.71 on Friday. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $233.14. The company has a market capitalization of $16.86 billion, a PE ratio of 50.76 and a beta of 1.94. 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 business has a 50-day moving average of $207.19 and a 200-day moving average of $190.16.

Insider Buying and Selling

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the sale, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. The trade was a 16.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $210.39, for a total value of $420,780.00. Following the transaction, the director owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 21.30% of the stock is owned by company insiders.

About MasTec

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.