MasTec, Inc. $MTZ Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 29.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 197,097 shares of the construction company’s stock after selling 84,074 shares during the quarter. Assenagon Asset Management S.A. owned about 0.25% of MasTec worth $41,944,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Caldwell Trust Co purchased a new stake in MasTec during the second quarter worth about $29,000. Parkside Financial Bank & Trust boosted its stake in shares of MasTec by 253.7% during 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 purchased a new stake in shares of MasTec during the 2nd quarter worth approximately $35,000. Evelyn Partners Asset Management Ltd acquired a new stake in shares of MasTec in the 2nd quarter worth approximately $43,000. Finally, Farther Finance Advisors LLC increased its stake in MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

MTZ has been the topic of several research reports. Stifel Nicolaus upped their target price on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. UBS Group upped their price target on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Robert W. Baird increased their price target on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned 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 $232.06.

Insiders Place Their Bets

In related news, CAO Timothy Michael Love sold 1,929 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at approximately $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the completion of the sale, the director directly owned 33,277 shares in the company, valued at approximately $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. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $213.71 on Friday. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $233.14. The company’s 50 day simple moving average is $207.19 and its 200 day simple moving average is $190.16. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 50.76 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33.

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.