Moloney Securities Asset Management LLC Acquires New Stake in MasTec, Inc. (NYSE:MTZ)

Moloney Securities Asset Management LLC acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,320 shares of the construction company’s stock, valued at approximately $1,024,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its position in MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after buying an additional 100 shares in the last quarter. UMB Bank n.a. boosted its stake in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the last quarter. Blue Trust Inc. boosted its stake in 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 purchasing an additional 138 shares during the last quarter. GAMMA Investing LLC boosted its stake in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. Finally, Second Line Capital LLC boosted its stake in MasTec by 0.8% during the 1st quarter. Second Line Capital LLC now owns 30,026 shares of the construction company’s stock valued at $2,800,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

NYSE MTZ opened at $136.65 on Wednesday. The company has a market capitalization of $10.83 billion, a PE ratio of 122.01 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The business’s fifty day moving average is $120.16 and its 200 day moving average is $110.75. MasTec, Inc. has a fifty-two week low of $46.70 and a fifty-two week high of $139.39.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several recent analyst reports. Craig Hallum increased their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. DA Davidson increased their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus increased their target price on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Citigroup raised their price target on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $148.62.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company’s stock.

MasTec 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.