MasTec, Inc. $MTZ Shares Sold by Castleark Management LLC

Castleark Management LLC lessened its stake in shares of MasTec, Inc. (NYSE:MTZ) by 54.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,540 shares of the construction company’s stock after selling 4,300 shares during the period. Castleark Management LLC’s holdings in MasTec were worth $603,000 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 company. Parkside Financial Bank & Trust lifted its stake in MasTec by 253.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after acquiring an additional 137 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of MasTec in the 2nd quarter valued at about $35,000. Evelyn Partners Asset Management Ltd purchased a new stake in shares of MasTec in the second quarter worth approximately $43,000. Farther Finance Advisors LLC boosted its holdings in shares of MasTec by 228.6% during the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock worth $47,000 after purchasing an additional 192 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in MasTec during the second quarter valued at approximately $49,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Mizuho set a $254.00 target price on shares of MasTec in a research report on Monday, November 3rd. Truist Financial increased their target price on shares of MasTec from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. UBS Group raised their target price on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Citigroup upped their price target on MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Stifel Nicolaus raised their price objective on MasTec from $198.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $229.44.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the transaction, the chief operating officer directly owned 184,249 shares of the company’s stock, valued at approximately $36,930,869.56. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total transaction of $420,780.00. Following the transaction, the director owned 33,277 shares in the company, valued at $7,001,148.03. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,929 shares of company stock worth $2,822,843. Insiders own 21.30% of the company’s stock.

MasTec Stock Performance

MasTec stock opened at $220.86 on Monday. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $233.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The stock has a fifty day moving average price of $207.15 and a two-hundred day moving average price of $188.97. The firm has a market capitalization of $17.43 billion, a P/E ratio of 52.46 and a beta of 1.94.

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.