Ieq Capital LLC Grows Position in MasTec, Inc. (NYSE:MTZ)

Ieq Capital LLC raised its position in MasTec, Inc. (NYSE:MTZ) by 504.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,656 shares of the construction company’s stock after purchasing an additional 30,592 shares during the quarter. Ieq Capital LLC’s holdings in MasTec were worth $4,990,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MTZ. Creative Planning raised its holdings in shares of MasTec by 9.5% in the 3rd quarter. Creative Planning now owns 2,909 shares of the construction company’s stock worth $358,000 after purchasing an additional 253 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of MasTec in the 3rd quarter worth about $290,000. Private Advisor Group LLC raised its holdings in shares of MasTec by 89.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,956 shares of the construction company’s stock worth $487,000 after purchasing an additional 1,869 shares during the period. International Assets Investment Management LLC raised its holdings in shares of MasTec by 12,210.0% in the 3rd quarter. International Assets Investment Management LLC now owns 129,255 shares of the construction company’s stock worth $15,911,000 after purchasing an additional 128,205 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of MasTec by 31.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 326,482 shares of the construction company’s stock worth $40,190,000 after purchasing an additional 77,976 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

Shares of NYSE MTZ opened at $126.35 on Friday. MasTec, Inc. has a fifty-two week low of $69.80 and a fifty-two week high of $166.95. The business has a 50 day moving average price of $142.25 and a two-hundred day moving average price of $130.67. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $10.01 billion, a PE ratio of 112.81 and a beta of 1.73.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. B. Riley reiterated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Robert W. Baird raised their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. TD Cowen raised their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus raised their target price on MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.57.

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.