HighTower Advisors LLC Boosts Position in MasTec, Inc. (NYSE:MTZ)

HighTower Advisors LLC grew its holdings in MasTec, Inc. (NYSE:MTZ) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,511 shares of the construction company’s stock after acquiring an additional 312 shares during the period. HighTower Advisors LLC’s holdings in MasTec were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in MasTec in the 2nd quarter worth approximately $40,000. UMB Bank n.a. boosted its holdings in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares in the last quarter. True Wealth Design LLC purchased a new position in MasTec in the third quarter valued at $57,000. GAMMA Investing LLC increased its holdings in MasTec by 39.9% in the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after buying an additional 146 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of MasTec in the third quarter worth about $84,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analyst Ratings Changes

MTZ has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird increased their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. Citigroup raised their price target on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp boosted their price objective on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.23.

MasTec Stock Performance

NYSE:MTZ opened at $136.56 on Friday. The firm’s fifty day simple moving average is $135.24 and its 200-day simple moving average is $119.35. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $10.82 billion, a PE ratio of 121.93 and a beta of 1.72. MasTec, Inc. has a fifty-two week low of $60.96 and a fifty-two week high of $150.12.

Insider Buying and Selling

In other news, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,823 shares of company stock worth $4,619,121 in the last quarter. Company insiders own 21.30% of the company’s stock.

About MasTec

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.