Geode Capital Management LLC Sells 2,939 Shares of MasTec, Inc. $MTZ

Geode Capital Management LLC lowered its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 0.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,102,279 shares of the construction company's stock after selling 2,939 shares during the period. Geode Capital Management LLC owned approximately 1.40% of MasTec worth $187,892,000 as of its most recent SEC filing.

• This infrastructure construction stock: Is it ready to pop?

Several other institutional investors and hedge funds have also recently modified their holdings of MTZ. Goldman Sachs Group Inc. boosted its position in shares of MasTec by 163.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock valued at $121,843,000 after buying an additional 648,184 shares during the last quarter. Ameriprise Financial Inc. raised its position in MasTec by 171.2% in the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock valued at $45,607,000 after buying an additional 246,666 shares during the last quarter. AQR Capital Management LLC lifted its stake in MasTec by 23.6% during the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock valued at $106,234,000 after acquiring an additional 184,277 shares in the last quarter. Nuveen LLC purchased a new stake in shares of MasTec in the first quarter valued at about $21,208,000. Finally, Lord Abbett & CO. LLC lifted its position in shares of MasTec by 77.8% during the first quarter. Lord Abbett & CO. LLC now owns 307,419 shares of the construction company's stock valued at $35,879,000 after purchasing an additional 134,493 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In related news, 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 sale, the director directly owned 33,277 shares of the company's stock, valued at $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the transaction, the chief operating officer directly owned 184,249 shares of the company's stock, valued at $36,930,869.56. The trade was a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,929 shares of company stock worth $3,394,013. Company insiders own 21.30% of the company's stock.

MasTec Trading Up 0.5%

• Rate cuts could send MasTec stock earnings through the roof

NYSE:MTZ opened at $193.22 on Tuesday. The company has a fifty day moving average of $203.12 and a 200 day moving average of $180.96. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $224.03. The firm has a market capitalization of $15.24 billion, a P/E ratio of 57.16 and a beta of 1.88. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MTZ shares. Zacks Research downgraded shares of MasTec from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Wall Street Zen lowered shares of MasTec from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 19th. Roth Capital boosted their price target on shares of MasTec from $210.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Mizuho set a $254.00 target price on shares of MasTec in a report on Monday, November 3rd. Finally, Truist Financial raised their price target on MasTec from $248.00 to $253.00 and gave the company a "buy" rating in a report on Monday, November 3rd. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.44.

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View Our Latest Research Report on MasTec

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.

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