MasTec, Inc. $MTZ Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its holdings in MasTec, Inc. (NYSE:MTZ) by 2.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,342,023 shares of the construction company’s stock after selling 36,207 shares during the quarter. Nordea Investment Management AB’s holdings in MasTec were worth $283,261,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MTZ. Brighton Jones LLC purchased a new position in shares of MasTec in the 4th quarter valued at approximately $227,000. NewEdge Advisors LLC increased its stake in MasTec by 32.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,083 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of MasTec by 15.8% in the first quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company’s stock worth $89,000 after buying an additional 104 shares during the last quarter. Strs Ohio acquired a new stake in shares of MasTec during the first quarter worth $1,082,000. Finally, Voya Investment Management LLC grew its holdings in shares of MasTec by 33.1% during the first quarter. Voya Investment Management LLC now owns 46,446 shares of the construction company’s stock valued at $5,421,000 after buying an additional 11,551 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insiders Place Their Bets

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the 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 transaction, the chief accounting officer owned 9,757 shares in the company, valued at approximately $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 21.30% of the company’s stock.

MasTec Trading Up 2.4%

Shares of NYSE:MTZ opened at $224.06 on Tuesday. 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 business has a 50 day moving average of $213.29 and a two-hundred day moving average of $197.84. The company has a market capitalization of $17.68 billion, a PE ratio of 53.22 and a beta of 1.91.

Analyst Ratings Changes

A number of brokerages have commented on MTZ. Stifel Nicolaus lifted their price target on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Roth Capital lifted their target price on MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. KeyCorp reissued an “overweight” rating and set a $264.00 price target on shares of MasTec in a research report on Wednesday, January 7th. Finally, Barclays upped 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. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MasTec has a consensus rating of “Buy” and an average target price of $233.06.

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.