Cinctive Capital Management LP Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Cinctive Capital Management LP acquired a new stake in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 32,036 shares of the construction company’s stock, valued at approximately $3,944,000.

A number of other institutional investors also recently modified their holdings of MTZ. Pacer Advisors Inc. increased its holdings in shares of MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. bought a new position in MasTec in the 2nd quarter valued at $79,494,000. Hood River Capital Management LLC increased its stake in shares of MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after buying an additional 446,762 shares during the period. AQR Capital Management LLC raised its position in shares of MasTec by 3,439.7% during the second quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after acquiring an additional 255,088 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after acquiring an additional 190,320 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Stock Down 1.4 %

Shares of MasTec stock opened at $142.04 on Tuesday. The company has a market capitalization of $11.26 billion, a P/E ratio of 126.82 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50-day moving average of $131.87 and a two-hundred day moving average of $116.72. MasTec, Inc. has a 1 year low of $60.96 and a 1 year high of $150.12.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,823 shares of company stock worth $7,493,301. 21.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTZ. Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $133.00 to $173.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. DA Davidson increased their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus lifted their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group upped their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

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.