Kayne Anderson Capital Advisors LP Cuts Holdings in MasTec, Inc. (NYSE:MTZ)

Kayne Anderson Capital Advisors LP reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 52.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,078 shares of the construction company’s stock after selling 7,753 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in MasTec were worth $871,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec during the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in MasTec in the 2nd quarter valued at $40,000. UMB Bank n.a. boosted its holdings in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after acquiring an additional 598 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group raised their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. UBS Group boosted their price target on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial raised shares of MasTec from a “hold” rating to a “buy” rating and lifted their price target for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. Finally, Citigroup raised their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.62.

Insider Transactions at MasTec

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

MasTec Stock Down 1.5 %

Shares of MTZ opened at $135.32 on Monday. The company has a 50-day simple moving average of $125.57 and a 200-day simple moving average of $113.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52 week low of $52.74 and a 52 week high of $147.23. The firm has a market capitalization of $10.72 billion, a P/E ratio of 120.82 and a beta of 1.70.

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.