GS Investments Inc. Has $4.26 Million Position in MasTec, Inc. (NYSE:MTZ)

GS Investments Inc. trimmed its holdings in MasTec, Inc. (NYSE:MTZ) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,570 shares of the construction company’s stock after selling 10,160 shares during the quarter. MasTec comprises 1.9% of GS Investments Inc.’s portfolio, making the stock its 21st biggest holding. GS Investments Inc.’s holdings in MasTec were worth $4,256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MTZ. Hobbs Group Advisors LLC bought a new stake in shares of MasTec during the second quarter worth $27,000. GAMMA Investing LLC increased its position in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in MasTec during the 2nd quarter worth about $40,000. UMB Bank n.a. lifted its position in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of NYSE MTZ opened at $140.84 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a 50 day moving average price of $127.77 and a 200 day moving average price of $114.56. The stock has a market capitalization of $11.16 billion, a PE ratio of 125.75 and a beta of 1.70. MasTec, Inc. has a 52 week low of $54.06 and a 52 week high of $147.23.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock worth $5,558,301 in the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MTZ. B. Riley reiterated a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Craig Hallum upped their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird upped their price target on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and increased their price target for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

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.