Lansing Street Advisors Purchases 1,109 Shares of MasTec, Inc. (NYSE:MTZ)

Lansing Street Advisors increased its position in MasTec, Inc. (NYSE:MTZ) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,761 shares of the construction company’s stock after acquiring an additional 1,109 shares during the quarter. Lansing Street Advisors’ holdings in MasTec were worth $1,465,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in MasTec in the 3rd quarter worth about $25,000. Ameliora Wealth Management Ltd. purchased a new position in MasTec in the 4th quarter worth about $25,000. Global Retirement Partners LLC raised its position in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after buying an additional 190 shares during the last quarter. R Squared Ltd purchased a new position in MasTec in the 4th quarter worth about $44,000. Finally, True Wealth Design LLC purchased a new position in MasTec in the 3rd quarter worth about $57,000. Institutional investors own 78.10% of the company’s stock.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 10,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by insiders.

MasTec Trading Down 4.8 %

MasTec stock opened at $126.35 on Friday. The firm has a 50 day moving average of $142.25 and a 200 day moving average of $130.84. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73. MasTec, Inc. has a 12-month low of $69.80 and a 12-month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Analysts Set New Price Targets

MTZ has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. Truist Financial boosted their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. B. Riley reissued a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price target on shares of MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, MasTec has an average rating of “Moderate Buy” and an average target price of $158.57.

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.