Advisors Asset Management Inc. Boosts Holdings in MasTec, Inc. (NYSE:MTZ)

Advisors Asset Management Inc. boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,761 shares of the construction company’s stock after buying an additional 1,375 shares during the quarter. Advisors Asset Management Inc.’s holdings in MasTec were worth $4,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTZ. Hobbs Group Advisors LLC bought a new stake in shares of MasTec during the 2nd quarter valued at $27,000. GAMMA Investing LLC lifted its position in MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in MasTec during the second quarter valued at about $40,000. UMB Bank n.a. increased its position in MasTec by 46.3% in 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. Finally, Bessemer Group Inc. raised its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after buying an additional 598 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MTZ shares. DA Davidson increased their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. TD Cowen increased their price objective on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. KeyCorp increased their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus boosted their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction on 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 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. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by corporate insiders.

MasTec Stock Performance

NYSE:MTZ opened at $142.15 on Friday. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 126.92 and a beta of 1.70. MasTec, Inc. has a 1 year low of $54.06 and a 1 year high of $147.23. The stock’s 50 day simple moving average is $128.40 and its two-hundred day simple moving average is $114.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

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.