Ellington Management Group LLC bought a new position in MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,100 shares of the construction company’s stock, valued at approximately $641,000.
Several other hedge funds also recently bought and sold shares of MTZ. Victory Capital Management Inc. lifted its holdings in shares of MasTec by 207,898.9% in the fourth quarter. Victory Capital Management Inc. now owns 740,476 shares of the construction company’s stock worth $36,246,000 after acquiring an additional 740,120 shares during the last quarter. Renaissance Technologies LLC raised its holdings in MasTec by 254.4% in the 4th quarter. Renaissance Technologies LLC now owns 661,000 shares of the construction company’s stock valued at $32,356,000 after buying an additional 474,500 shares during the last quarter. Macquarie Group Ltd. raised its holdings in MasTec by 15.3% in the 3rd quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after buying an additional 404,076 shares during the last quarter. 1060 Capital LLC raised its holdings in MasTec by 73.0% in the 3rd quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock valued at $43,629,000 after buying an additional 396,847 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in MasTec by 47.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock valued at $58,058,000 after buying an additional 380,880 shares during the last quarter. 78.96% of the stock is owned by hedge funds and other institutional investors.
MasTec, Inc. (MTZ) opened at $51.90 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.89. MasTec, Inc. has a fifty-two week low of $36.40 and a fifty-two week high of $55.53. The stock has a market cap of $4,290.33, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.10 and a beta of 1.48.
In other MasTec news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $50.16, for a total transaction of $1,254,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julia L. Johnson sold 29,607 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $51.11, for a total transaction of $1,513,213.77. Following the transaction, the director now owns 72,921 shares of the company’s stock, valued at approximately $3,726,992.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,607 shares of company stock valued at $4,887,214. Company insiders own 20.30% of the company’s stock.
A number of research analysts recently issued reports on the stock. Barclays assumed coverage on shares of MasTec in a report on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective for the company. Citigroup raised their price objective on shares of MasTec from $62.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Robert W. Baird lowered shares of MasTec from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Thursday, March 1st. DA Davidson raised their price objective on shares of MasTec to $65.00 and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $61.01.
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MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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