Community Trust & Investment Co. Sells 3,818 Shares of MasTec, Inc. $MTZ

Community Trust & Investment Co. decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 144,667 shares of the construction company’s stock after selling 3,818 shares during the quarter. MasTec makes up approximately 1.7% of Community Trust & Investment Co.’s holdings, making the stock its 11th largest holding. Community Trust & Investment Co.’s holdings in MasTec were worth $30,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC grew its stake in shares of MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co bought a new position in MasTec during the second quarter worth about $29,000. Parkside Financial Bank & Trust grew its position in shares of MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after buying an additional 137 shares during the period. Princeton Global Asset Management LLC bought a new stake in shares of MasTec in the 3rd quarter valued at about $43,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of MasTec in the 2nd quarter valued at approximately $35,000. 78.10% of the stock is currently owned by institutional investors.

Insider Activity at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.30% of the stock is currently owned by company insiders.

MasTec Trading Up 2.1%

MTZ opened at $232.50 on Tuesday. The stock has a market capitalization of $18.34 billion, a P/E ratio of 55.22 and a beta of 1.91. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $237.76. The firm’s fifty day simple moving average is $211.68 and its 200 day simple moving average is $195.76.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MTZ shares. Barclays boosted their price objective on shares of MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Zacks Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Wolfe Research raised MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research note on Wednesday, September 17th. Guggenheim reiterated a “neutral” rating and set a $215.00 target price on shares of MasTec in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $232.06.

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.