GS Investments Inc. Sells 11,119 Shares of MasTec, Inc. $MTZ

GS Investments Inc. reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 34.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,056 shares of the construction company’s stock after selling 11,119 shares during the quarter. MasTec accounts for 2.2% of GS Investments Inc.’s portfolio, making the stock its 17th largest position. GS Investments Inc.’s holdings in MasTec were worth $4,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in MTZ. Qube Research & Technologies Ltd lifted its holdings in MasTec by 370.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company’s stock valued at $86,384,000 after purchasing an additional 399,007 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of MasTec during the third quarter worth approximately $50,904,000. Vanguard Group Inc. increased its holdings in shares of MasTec by 4.1% during the second quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock worth $1,017,858,000 after buying an additional 234,594 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of MasTec by 42.2% in the second quarter. Ameriprise Financial Inc. now owns 555,486 shares of the construction company’s stock valued at $94,672,000 after acquiring an additional 164,722 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in shares of MasTec by 8.9% in the 2nd quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after acquiring an additional 138,269 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MTZ. Barclays raised their price target on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Stifel Nicolaus raised their target price on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Wall Street Zen upgraded shares of MasTec from a “hold” rating to a “buy” rating in a research report on Sunday, January 25th. Truist Financial raised their price objective on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, Mizuho set a $254.00 target price on shares of MasTec in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $238.16.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $264.56 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $276.79. The stock has a market capitalization of $20.87 billion, a P/E ratio of 62.84 and a beta of 1.94. The business has a 50-day moving average price of $233.32 and a two-hundred day moving average price of $209.02.

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.