Wealth Enhancement Advisory Services LLC Has $4.29 Million Holdings in MasTec, Inc. $MTZ

Wealth Enhancement Advisory Services LLC raised its holdings in MasTec, Inc. (NYSE:MTZ) by 36.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,162 shares of the construction company’s stock after acquiring an additional 5,420 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in MasTec were worth $4,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Quantum Portfolio Management LLC grew its position in shares of MasTec by 60.5% in the 3rd quarter. Quantum Portfolio Management LLC now owns 4,801 shares of the construction company’s stock valued at $1,022,000 after purchasing an additional 1,809 shares during the period. Yorktown Management & Research Co Inc bought a new position in MasTec in the third quarter valued at approximately $468,000. Maryland State Retirement & Pension System boosted its holdings in shares of MasTec by 5.9% in the third quarter. Maryland State Retirement & Pension System now owns 3,101 shares of the construction company’s stock valued at $660,000 after buying an additional 173 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of MasTec by 21.4% during the third quarter. Sequoia Financial Advisors LLC now owns 3,676 shares of the construction company’s stock worth $782,000 after acquiring an additional 647 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of MasTec by 21.5% during the third quarter. Evergreen Capital Management LLC now owns 2,683 shares of the construction company’s stock worth $571,000 after acquiring an additional 474 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Activity at MasTec

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. KeyCorp reiterated an “overweight” rating and set a $264.00 price objective on shares of MasTec in a report on Wednesday, January 7th. UBS Group boosted their target price on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Robert W. Baird boosted their price objective on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Barclays increased their target price on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $238.16.

MasTec Trading Up 1.4%

Shares of MasTec stock opened at $245.30 on Tuesday. The stock has a market cap of $19.35 billion, a P/E ratio of 58.27 and a beta of 1.91. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $249.21. The business’s 50 day moving average is $221.70 and its 200-day moving average is $202.66.

MasTec 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.