Ausbil Investment Management Ltd Sells 1,473 Shares of MasTec, Inc. (NYSE:MTZ)

Ausbil Investment Management Ltd trimmed its stake in MasTec, Inc. (NYSE:MTZ) by 26.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,123 shares of the construction company’s stock after selling 1,473 shares during the period. Ausbil Investment Management Ltd’s holdings in MasTec were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC raised its position in shares of MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock valued at $3,880,000 after purchasing an additional 8,948 shares during the period. Atom Investors LP raised its holdings in MasTec by 979.0% in the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after acquiring an additional 55,363 shares during the period. Exchange Traded Concepts LLC lifted its position in MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 13,241 shares during the last quarter. State Street Corp boosted its holdings in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares during the period. Finally, Makena Capital Management LLC grew its position in shares of MasTec by 41.4% in the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after purchasing an additional 25,532 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

Shares of MTZ stock opened at $145.33 on Friday. The stock has a 50-day moving average of $143.18 and a 200-day moving average of $127.35. MasTec, Inc. has a one year low of $65.67 and a one year high of $166.95. The stock has a market cap of $11.52 billion, a PE ratio of 129.76 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MTZ shares. KeyCorp boosted their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Stifel Nicolaus upped their price target on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group boosted their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Craig Hallum increased their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.57.

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.