Community Trust & Investment Co. Sells 3,818 Shares of MasTec, Inc. $MTZ

Community Trust & Investment Co. cut its stake in MasTec, Inc. (NYSE:MTZ) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,667 shares of the construction company’s stock after selling 3,818 shares during the period. MasTec comprises approximately 1.7% of Community Trust & Investment Co.’s holdings, making the stock its 11th largest holding. Community Trust & Investment Co. owned approximately 0.18% of MasTec worth $30,787,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Salomon & Ludwin LLC raised its stake in MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of MasTec in the 2nd quarter worth about $29,000. Parkside Financial Bank & Trust increased its position 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 purchasing an additional 137 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in MasTec during the 2nd quarter valued at about $35,000. Finally, Evelyn Partners Asset Management Ltd bought a new position in MasTec during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 2.1%

MTZ stock opened at $232.50 on Tuesday. The company has a market cap of $18.34 billion, a P/E ratio of 55.22 and a beta of 1.91. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $237.76. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $211.68 and a 200-day moving average of $195.76.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MTZ shares. Truist Financial raised their price objective on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. UBS Group increased their price target on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. KeyCorp lifted their price objective on MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Finally, Citigroup raised their target price on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MasTec currently has an average rating of “Buy” and a consensus price target of $232.06.

Insiders Place Their Bets

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company’s stock.

About MasTec

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.