Moloney Securities Asset Management LLC Makes New $1.02 Million Investment in MasTec, Inc. (NYSE:MTZ)

Moloney Securities Asset Management LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,320 shares of the construction company’s stock, valued at approximately $1,024,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its stake in MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. lifted its stake in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the last quarter. Blue Trust Inc. lifted its stake in MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares during the last quarter. Finally, Second Line Capital LLC boosted its holdings 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 acquiring an additional 225 shares during the period. Institutional investors own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,823 shares of company stock valued at $5,558,301. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Up 3.0 %

Shares of NYSE:MTZ opened at $136.65 on Wednesday. MasTec, Inc. has a 52-week low of $46.70 and a 52-week high of $139.39. The firm has a market capitalization of $10.83 billion, a P/E ratio of 122.01 and a beta of 1.70. The stock has a 50 day moving average price of $120.16 and a 200-day moving average price of $110.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report 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 report on Monday, August 5th. Robert W. Baird increased their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday. Craig Hallum increased their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group increased their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.62.

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.