CIBC Asset Management Inc Has $326,000 Stake in MasTec, Inc. (NYSE:MTZ)

CIBC Asset Management Inc increased its position in shares of MasTec, Inc. (NYSE:MTZ) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,396 shares of the construction company’s stock after purchasing an additional 116 shares during the quarter. CIBC Asset Management Inc’s holdings in MasTec were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec during the third quarter worth $25,000. Ameliora Wealth Management Ltd. bought a new position in MasTec during the fourth quarter worth about $25,000. R Squared Ltd acquired a new stake in MasTec in the 4th quarter worth about $44,000. True Wealth Design LLC bought a new stake in MasTec in the 3rd quarter valued at about $57,000. Finally, UMB Bank n.a. grew its position in shares of MasTec by 29.8% during the 4th 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. 78.10% of the stock is currently owned by institutional investors.

MasTec Trading Down 4.8 %

MTZ opened at $126.35 on Monday. The company has a market cap of $10.01 billion, a P/E ratio of 112.81 and a beta of 1.73. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $142.25 and its 200-day moving average is $131.03. MasTec, Inc. has a 1-year low of $69.80 and a 1-year high of $166.95.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were 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 owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. KeyCorp lifted their price objective on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Truist Financial increased their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. TD Cowen boosted their price target on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus increased their price objective on shares of MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.