Vontobel Holding Ltd. Reduces Its Stake in MasTec, Inc.

Vontobel Holding Ltd. has decreased its investment in MasTec, Inc. (NYSE:MTZ) by 29.8% during the fourth quarter, as stated in its recent Form 13F filing with the Securities and Exchange Commission (SEC). After selling 158,303 shares, the firm now owns a total of 373,090 shares in the construction company, which represents 0.47% of MasTec, valued at $50,792,000 based on its latest filing.

Recent Investor Actions

Several other institutional investors have also adjusted their stakes in MasTec. For instance, CIBC Asset Management Inc. increased its holdings by 3.7% in the third quarter, acquiring an additional 82 shares, bringing its total to 2,280 shares worth $281,000. Similarly, Coldstream Capital Management Inc. raised its stake by 2.8% during the same period, owning 3,425 shares valued at $423,000 after purchasing 94 more shares. The New York State Teachers Retirement System also incremented its stake by 0.4%, now holding 26,557 shares worth $3,269,000 after adding 100 shares to its portfolio. Meanwhile, Victory Capital Management Inc. increased its holdings by 0.8%, with a total of 12,858 shares valued at $1,583,000. UMB Bank n.a. raised its position in MasTec by 29.8% in the fourth quarter, now owning 492 shares valued at $67,000 after buying an additional 113 shares. Notably, institutional investors currently hold 78.10% of MasTec's shares.

Insider Transactions

In related news, Director C. Robert Campbell sold 3,000 shares of MasTec stock on November 26th at an average price of $145.00, totaling $435,000. Following the transaction, Campbell retained 42,478 shares valued at approximately $6,159,310, reflecting a 6.60% decrease in his ownership. Additionally, COO Robert E. Apple sold 10,000 shares on the same day for $150.00 each, amounting to $1,500,000. Post-sale, the COO has 187,202 shares valued at about $28,080,300, a 5.07% decrease in his ownership. Insiders own 21.30% of the stock of MasTec.

Analyst Ratings and Price Targets

Analysts have been active in providing updates on MasTec. KeyCorp raised its price target to $168.00 with an