MasTec, Inc. (NYSE:MTZ) Shares Acquired by Quest Partners LLC

Quest Partners LLC lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 360,900.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,220 shares of the construction company’s stock after acquiring an additional 7,218 shares during the quarter. Quest Partners LLC’s holdings in MasTec were worth $889,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Claro Advisors LLC acquired a new position in shares of MasTec during the third quarter valued at approximately $230,000. Chesapeake Capital Corp IL boosted its holdings in MasTec by 38.7% during the third quarter. Chesapeake Capital Corp IL now owns 3,910 shares of the construction company’s stock worth $480,000 after buying an additional 1,090 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after buying an additional 82 shares in the last quarter. Sycomore Asset Management boosted its holdings in MasTec by 8.8% during the third quarter. Sycomore Asset Management now owns 22,437 shares of the construction company’s stock worth $2,754,000 after buying an additional 1,817 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in MasTec by 0.8% during the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Down 1.1 %

MasTec stock opened at $140.84 on Thursday. The company’s fifty day simple moving average is $127.77 and its 200-day simple moving average is $114.56. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12 month low of $54.06 and a 12 month high of $147.23. The stock has a market cap of $11.16 billion, a P/E ratio of 125.75 and a beta of 1.70.

Insider Activity

In related news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock worth $5,558,301 in the last ninety days. Corporate insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Stifel Nicolaus raised their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird raised their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group raised their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Craig Hallum lifted their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

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.