Chicago Capital LLC Takes $485,000 Position in MasTec, Inc. $MTZ

Chicago Capital LLC purchased a new position in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,281 shares of the construction company’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. Allspring Global Investments Holdings LLC grew its holdings in shares of MasTec by 92.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after purchasing an additional 31,218 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of MasTec by 33.1% in the first quarter. Voya Investment Management LLC now owns 46,446 shares of the construction company’s stock valued at $5,421,000 after buying an additional 11,551 shares during the last quarter. Bridge City Capital LLC lifted its position in MasTec by 27.2% during the 2nd quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock worth $8,412,000 after buying an additional 10,565 shares in the last quarter. Schroder Investment Management Group bought a new stake in MasTec during the 2nd quarter worth about $12,366,000. Finally, Sterling Capital Management LLC increased its position in MasTec by 16.3% in the 2nd quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock valued at $13,472,000 after acquiring an additional 11,071 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares in the company, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of MasTec from $236.00 to $246.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Stifel Nicolaus increased their price objective on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. boosted their target price on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Barclays upped their price target on MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $232.06.

MasTec Stock Performance

Shares of MasTec stock opened at $235.79 on Wednesday. The firm has a fifty day moving average of $212.15 and a two-hundred day moving average of $196.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 56.01 and a beta of 1.91. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $237.76.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.