Yorktown Management & Research Co Inc Acquires New Stake in MasTec, Inc. $MTZ

Yorktown Management & Research Co Inc acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,200 shares of the construction company’s stock, valued at approximately $468,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC increased its position in MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co acquired a new position in MasTec during the second quarter worth $29,000. Parkside Financial Bank & Trust raised its position in MasTec by 253.7% in the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after acquiring an additional 137 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in MasTec in the second quarter valued at $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in MasTec in the second quarter valued at $43,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Up 2.6%

MTZ opened at $242.06 on Friday. The firm has a market cap of $19.10 billion, a P/E ratio of 57.50 and a beta of 1.91. The business’s fifty day simple moving average is $216.02 and its 200 day simple moving average is $199.38. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $249.21. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Insider Transactions at MasTec

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total value 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 approximately $2,011,405.55. The trade was a 16.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTZ. KeyCorp reissued an “overweight” rating and set a $264.00 price objective on shares of MasTec in a report on Wednesday, January 7th. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Zacks Research raised MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Stifel Nicolaus lifted their price objective on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Truist Financial upped their target price on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $233.06.

About MasTec

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.