BayBridge Capital Group LLC Invests $423,000 in MasTec, Inc. (NYSE:MTZ)

BayBridge Capital Group LLC bought a new position in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,107 shares of the construction company’s stock, valued at approximately $423,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after buying an additional 895,227 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after purchasing an additional 289,090 shares during the period. Point72 Asset Management L.P. increased its holdings in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. Barclays PLC raised its position in MasTec by 642.7% in the third quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after purchasing an additional 209,472 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after purchasing an additional 190,320 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MTZ shares. UBS Group increased their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. B. Riley restated a “buy” rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird upped their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $158.57.

MasTec Price Performance

Shares of MTZ opened at $144.96 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 129.43 and a beta of 1.73. MasTec, Inc. has a 52 week low of $68.54 and a 52 week high of $166.95. The stock has a 50 day moving average of $142.86 and a 200-day moving average of $128.36.

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.