Swedbank AB Has $13 Million Holdings in MasTec, Inc. $MTZ

Swedbank AB grew its position in MasTec, Inc. (NYSE:MTZ) by 80.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 61,100 shares of the construction company’s stock after acquiring an additional 27,200 shares during the period. Swedbank AB owned 0.08% of MasTec worth $13,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caldwell Trust Co bought a new position in MasTec in the second quarter valued at about $29,000. Parkside Financial Bank & Trust increased its stake in shares of MasTec by 253.7% in the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after buying an additional 137 shares during the period. Princeton Global Asset Management LLC bought a new position in MasTec in the 3rd quarter valued at approximately $43,000. Ameritas Advisory Services LLC bought a new position in MasTec in the 2nd quarter valued at approximately $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in MasTec during the 2nd quarter worth approximately $43,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MasTec stock opened at $224.40 on Friday. The business has a 50-day moving average price of $209.68 and a two-hundred day moving average price of $192.79. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $233.14. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The company has a market cap of $17.70 billion, a P/E ratio of 53.30 and a beta of 1.94.

Analysts Set New Price Targets

MTZ has been the subject of several analyst reports. Roth Capital raised their price target on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. KeyCorp increased their price objective on MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Robert W. Baird upped their price target on MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Finally, UBS Group raised their price objective on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Two equities 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’s stock. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and an average price target of $232.06.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the sale, the director owned 33,277 shares of the company’s stock, valued at $7,001,148.03. This trade represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The SEC filing for this sale provides additional information. 21.30% of the stock is currently owned by corporate insiders.

MasTec 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.