Kayne Anderson Capital Advisors LP lowered its stake in shares of MasTec, Inc. (NYSE:MTZ – Free Report) by 52.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,078 shares of the construction company’s stock after selling 7,753 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in MasTec were worth $871,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new position in MasTec in the 1st quarter valued at approximately $463,000. Russell Investments Group Ltd. increased its holdings in shares of MasTec by 139.0% during the first quarter. Russell Investments Group Ltd. now owns 60,406 shares of the construction company’s stock valued at $5,633,000 after acquiring an additional 35,130 shares in the last quarter. Bessemer Group Inc. increased its position in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after acquiring an additional 598 shares in the last quarter. LGT Group Foundation raised its position in MasTec by 5.3% in the 1st quarter. LGT Group Foundation now owns 77,729 shares of the construction company’s stock valued at $7,248,000 after buying an additional 3,939 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in MasTec by 13.0% in the first quarter. Advisors Asset Management Inc. now owns 29,069 shares of the construction company’s stock worth $2,711,000 after purchasing an additional 3,339 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.
Insider Transactions at MasTec
In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock valued at $5,558,301 in the last ninety days. Corporate insiders own 21.30% of the company’s stock.
MasTec Stock Performance
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on MTZ shares. TD Cowen lifted their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Craig Hallum upped their target price on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. B. Riley reissued a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Robert W. Baird boosted their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus raised their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and an average price target of $148.62.
Read Our Latest Report on MasTec
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.
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