Impact Partnership Wealth LLC Purchases New Position in MasTec, Inc. (NYSE:MTZ)

Impact Partnership Wealth LLC acquired a new stake in MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,884 shares of the construction company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in MasTec in the 4th quarter valued at $227,000. Janney Montgomery Scott LLC lifted its holdings in MasTec by 82.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,824 shares of the construction company’s stock valued at $1,065,000 after purchasing an additional 3,527 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of MasTec by 6.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,397 shares of the construction company’s stock valued at $1,687,000 after purchasing an additional 724 shares during the period. UMB Bank n.a. increased its stake in shares of MasTec by 29.8% during the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock worth $67,000 after purchasing an additional 113 shares in the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of MasTec during the 4th quarter worth about $221,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp lifted their target price on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Craig Hallum boosted their target price on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target for the company. Finally, Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.21.

MasTec Price Performance

Shares of MTZ opened at $159.50 on Friday. The firm has a 50-day simple moving average of $143.34 and a two-hundred day simple moving average of $126.12. The stock has a market cap of $12.64 billion, a PE ratio of 142.41 and a beta of 1.74. MasTec, Inc. has a 1-year low of $63.97 and a 1-year high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the chief operating officer now owns 187,202 shares in the company, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,023 shares of company stock worth $4,515,089. Insiders own 21.30% of the company’s stock.

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.