MasTec, Inc. (NYSE:MTZ) Stake Raised by Fmr LLC

Fmr LLC raised its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 18.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,382 shares of the construction company’s stock after purchasing an additional 518 shares during the period. Fmr LLC’s holdings in MasTec were worth $416,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new position in MasTec during the second quarter valued at approximately $288,000. Blue Trust Inc. boosted its stake in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares during the period. Raymond James & Associates grew its holdings in shares of MasTec by 43.4% during the 2nd quarter. Raymond James & Associates now owns 48,230 shares of the construction company’s stock valued at $5,160,000 after acquiring an additional 14,608 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of MasTec during the 2nd quarter valued at $215,000. Finally, Tributary Capital Management LLC increased its stake in shares of MasTec by 88.5% in the second quarter. Tributary Capital Management LLC now owns 7,670 shares of the construction company’s stock worth $821,000 after acquiring an additional 3,600 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

NYSE MTZ opened at $132.07 on Friday. MasTec, Inc. has a 1 year low of $60.96 and a 1 year high of $150.12. The company has a fifty day simple moving average of $134.95 and a 200 day simple moving average of $119.01. 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 has a market cap of $10.46 billion, a P/E ratio of 117.92 and a beta of 1.72.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,823 shares of company stock valued at $4,619,121 in the last quarter. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MTZ. TD Cowen lifted their price objective on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. KeyCorp lifted their price target on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Stifel Nicolaus increased their price objective on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. UBS Group lifted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley reissued a “buy” rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.23.

MasTec Company 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.