MasTec, Inc. $MTZ Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 5.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 42,602 shares of the construction company’s stock after acquiring an additional 2,334 shares during the quarter. Advisors Asset Management Inc. owned about 0.05% of MasTec worth $9,066,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Salomon & Ludwin LLC raised its holdings in MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new stake in MasTec in the 2nd quarter valued at about $29,000. Parkside Financial Bank & Trust lifted its holdings in MasTec by 253.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after acquiring an additional 137 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of MasTec during the 2nd quarter valued at about $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new position in shares of MasTec in the 2nd quarter worth approximately $43,000. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Stock Performance

Shares of MTZ opened at $264.21 on Thursday. MasTec, Inc. has a one year low of $99.70 and a one year high of $276.79. The company has a market cap of $20.85 billion, a PE ratio of 62.76 and a beta of 1.94. The stock has a 50-day moving average of $232.41 and a 200-day moving average of $208.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MTZ shares. Robert W. Baird raised their target price on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Mizuho set a $254.00 price objective on MasTec in a research note on Monday, November 3rd. Zacks Research raised MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. upped their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Barclays lifted their price target on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Profile

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.