Coatue Management Reduces $34M in MasTec, Inc. ($MTZ)
Key Points
- Coatue Management changed its MasTec, Inc. ($MTZ) stake by 13.9% last quarter, cutting to 583,597 shares worth $211.83 million.
- Wall Street's consensus rating on $MTZ is Strong Buy and an average price target of $473.05.
- $MTZ last traded around $362.97.
Coatue Management reduced its position in MasTec, Inc. ($MTZ) by 13.9% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 583,597 shares of MasTec, Inc. after selling 94,312 shares during the quarter. Coatue Management's holdings in MasTec, Inc. were worth $211.83 million as of its most recent filing.
MasTec, Inc. ($MTZ) Stock
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About MasTec, Inc.
MasTec, Inc., an infrastructure engineering and 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, Power Delivery, Pipeline Infrastructure, and Other. The company builds infrastructure for wireless and wireline/fiber communications; clean energy infrastructure comprising renewable energy power generation; pipeline infrastructure, including natural gas, water, carbon capture sequestration, and other product transport; power delivery services, such as electrical and gas transmission, and distribution systems; industrial and heavy civil infrastructure, including roads, bridges, and rail; and water infrastructure. It also installs electrical and other gas distribution and transmission systems, power generation, civil and industrial facilities, pipelines, and fiber optic and other cables, as well as install-to-the-home services. In addition, the company offers maintenance and upgrade support services comprising maintenance of customers' distribution facilities, networks, and infrastructure, including communications, power generation, pipeline, electrical distribution and transmission, and civil and industrial infrastructure; emergency restoration services for natural disasters and accidents; and routine replacements and upgrades to overhauls. Its customers include wireless and wireline/fiber service providers, broadband operators, install-to-the-home service providers, public and private energy providers, including renewable and other energy providers, pipeline operators, civil, transportation, and water and wastewater pipeline installation services, industrial infrastructure providers, as well as government entities. MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida.
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