Hillman Co. Acquires Shares of 104,216 MasTec, Inc. $MTZ

Hillman Co. acquired a new position in MasTec, Inc. (NYSE:MTZ) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 104,216 shares of the construction company’s stock, valued at approximately $22,178,000. MasTec makes up approximately 6.8% of Hillman Co.’s holdings, making the stock its 7th largest position. Hillman Co. owned approximately 0.13% of MasTec as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Rothschild Investment LLC grew its position in MasTec by 22.5% in the second quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock worth $58,000 after acquiring an additional 62 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock valued at $52,000 after purchasing an additional 82 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of MasTec by 4.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock worth $453,000 after purchasing an additional 91 shares during the period. Verdence Capital Advisors LLC increased its position in shares of MasTec by 4.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after purchasing an additional 93 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $235.87 on Thursday. The firm’s 50 day simple moving average is $212.44 and its 200-day simple moving average is $196.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. MasTec, Inc. has a one year low of $99.70 and a one year high of $237.76. The firm has a market cap of $18.61 billion, a PE ratio of 56.03 and a beta of 1.91.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho set a $254.00 price objective on shares of MasTec in a research note on Monday, November 3rd. Roth Capital lifted their price target on shares of MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Citigroup increased their price objective on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $264.00 price target on shares of MasTec in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $233.06.

Insider Transactions at MasTec

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. The trade was a 16.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.30% of the stock is currently owned by company insiders.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.