Union Bancaire Privee UBP SA Invests $1.02 Million in MasTec, Inc. $MTZ

Union Bancaire Privee UBP SA acquired a new stake in MasTec, Inc. (NYSE:MTZ) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,808 shares of the construction company’s stock, valued at approximately $1,023,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Rothschild Investment LLC raised its position in MasTec by 22.5% in the second quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock valued at $58,000 after purchasing an additional 62 shares during the period. Parallel Advisors LLC increased its position in shares of MasTec by 37.1% during the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after purchasing an additional 82 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in MasTec by 4.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after buying an additional 93 shares during the period. ProShare Advisors LLC lifted its position in MasTec by 3.7% in the second quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company’s stock valued at $463,000 after buying an additional 97 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in MasTec by 15.8% in the first quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company’s stock valued at $89,000 after buying an additional 104 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

NYSE:MTZ opened at $208.95 on Thursday. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $233.14. The company has a fifty day simple moving average of $207.12 and a two-hundred day simple moving average of $189.99. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 49.63 and a beta of 1.94.

Insider Buying and Selling at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the business’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 approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total transaction of $420,780.00. Following the sale, the director owned 33,277 shares in the company, valued at $7,001,148.03. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of MasTec from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a research note on Monday. Mizuho set a $254.00 price target on MasTec in a research report on Monday, November 3rd. Finally, Wolfe Research raised MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.11.

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.