Jackson Creek Investment Advisors LLC Lowers Stock Holdings in MasTec, Inc. $MTZ

Jackson Creek Investment Advisors LLC lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 20.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,400 shares of the construction company’s stock after selling 3,001 shares during the quarter. MasTec comprises about 0.7% of Jackson Creek Investment Advisors LLC’s holdings, making the stock its 12th biggest holding. Jackson Creek Investment Advisors LLC’s holdings in MasTec were worth $2,426,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its position in MasTec by 344.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares during the period. Caldwell Trust Co purchased a new position in MasTec in the second quarter valued at $29,000. Parkside Financial Bank & Trust grew its stake in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after purchasing an additional 137 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in MasTec during the 2nd quarter worth about $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in MasTec in the 2nd quarter valued at about $43,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Trading Up 1.9%

MTZ opened at $245.14 on Tuesday. 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 52 week low of $99.70 and a 52 week high of $250.99. The business’s 50 day moving average is $226.54 and its two-hundred day moving average is $205.18. The firm has a market cap of $19.34 billion, a price-to-earnings ratio of 58.23 and a beta of 1.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Stifel Nicolaus raised their price target on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Barclays increased their price objective on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Cantor Fitzgerald initiated coverage on MasTec in a research note on Friday, January 23rd. They set an “overweight” rating and a $274.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $238.16.

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.