MasTec, Inc. $MTZ Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in MasTec, Inc. (NYSE:MTZ) by 48.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,844 shares of the construction company’s stock after acquiring an additional 13,037 shares during the period. American Century Companies Inc. owned 0.05% of MasTec worth $6,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its holdings in shares of MasTec by 33.1% in the 1st quarter. Voya Investment Management LLC now owns 46,446 shares of the construction company’s stock valued at $5,421,000 after acquiring an additional 11,551 shares during the period. Sterling Capital Management LLC grew its holdings in shares of MasTec by 16.3% during the second quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock worth $13,472,000 after buying an additional 11,071 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in MasTec in the 2nd quarter valued at about $35,000. Creative Planning raised its stake in MasTec by 19.9% during the 2nd quarter. Creative Planning now owns 6,221 shares of the construction company’s stock valued at $1,060,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in MasTec by 55.9% during the 2nd quarter. Stephens Inc. AR now owns 3,669 shares of the construction company’s stock worth $625,000 after acquiring an additional 1,315 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Robert W. Baird boosted their price target on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Citigroup raised their price objective on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, MasTec presently has an average rating of “Moderate Buy” and an average price target of $229.44.

MasTec Price Performance

MTZ stock opened at $219.59 on Friday. The stock’s 50 day moving average price is $206.07 and its 200 day moving average price is $186.24. The firm has a market cap of $17.33 billion, a P/E ratio of 52.16 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03.

Insider Buying and Selling

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the sale, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This trade represents a 16.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer directly owned 184,249 shares of the company’s stock, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,929 shares of company stock worth $3,394,013. 21.30% of the stock is owned by corporate insiders.

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.