Handelsbanken Fonder AB Sells 200 Shares of MasTec, Inc. (NYSE:MTZ)

Handelsbanken Fonder AB lowered its position in MasTec, Inc. (NYSE:MTZ) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,800 shares of the construction company’s stock after selling 200 shares during the period. Handelsbanken Fonder AB’s holdings in MasTec were worth $2,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTZ. Ieq Capital LLC boosted its position in shares of MasTec by 504.5% in the 4th quarter. Ieq Capital LLC now owns 36,656 shares of the construction company’s stock worth $4,990,000 after purchasing an additional 30,592 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after buying an additional 190 shares during the period. Convergence Investment Partners LLC boosted its stake in MasTec by 47.9% in the 4th quarter. Convergence Investment Partners LLC now owns 11,622 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 3,762 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of MasTec by 374.5% during the fourth quarter. Venturi Wealth Management LLC now owns 764 shares of the construction company’s stock worth $104,000 after buying an additional 603 shares in the last quarter. Finally, Truist Financial Corp bought a new position in shares of MasTec during the 4th quarter worth approximately $239,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 2.3 %

MTZ opened at $128.42 on Wednesday. The stock has a market cap of $10.18 billion, a PE ratio of 114.66 and a beta of 1.73. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $69.80 and a 52 week high of $166.95. The business’s fifty day simple moving average is $141.80 and its 200 day simple moving average is $131.31.

Analysts Set New Price Targets

MTZ has been the subject of several analyst reports. Guggenheim began coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. Stifel Nicolaus upped their target price on MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. B. Riley restated a “buy” rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, Robert W. Baird raised their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.57.

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.