MasTec, Inc. $MTZ Stock Position Decreased by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd trimmed its stake in MasTec, Inc. (NYSE:MTZ) by 46.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,988 shares of the construction company’s stock after selling 60,822 shares during the quarter. Temasek Holdings Private Ltd owned approximately 0.09% of MasTec worth $12,098,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MTZ. Voya Investment Management LLC raised its position in 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 period. Bridge City Capital LLC grew its stake in MasTec by 27.2% during the 2nd quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after acquiring an additional 10,565 shares in the last quarter. Sterling Capital Management LLC grew its stake in MasTec by 16.3% during the 2nd quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock valued at $13,472,000 after acquiring an additional 11,071 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of MasTec in the second quarter worth approximately $12,366,000. Finally, Quantbot Technologies LP acquired a new stake in shares of MasTec during the second quarter worth approximately $5,022,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $190.39, for a total transaction of $571,170.00. Following the sale, the director directly owned 35,277 shares of the company’s stock, valued at approximately $6,716,388.03. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the sale, the chief operating officer owned 184,249 shares in the company, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,929 shares of company stock worth $3,394,013 over the last quarter. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

NYSE:MTZ opened at $219.59 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The company has a 50-day moving average of $206.07 and a 200-day moving average of $186.46. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $224.03. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 52.16 and a beta of 1.94.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTZ shares. 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 research note on Thursday, October 16th. Citigroup raised their price target on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Wolfe Research upgraded 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. Zacks Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Stifel Nicolaus raised their target price on MasTec from $198.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.44.

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.