Bank of New York Mellon Corp Purchases 30,353 Shares of MasTec, Inc. $MTZ

Bank of New York Mellon Corp boosted its position in MasTec, Inc. (NYSE:MTZ) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 582,397 shares of the construction company’s stock after purchasing an additional 30,353 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of MasTec worth $123,940,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MTZ. Brighton Jones LLC acquired a new position in shares of MasTec in the fourth quarter valued at about $227,000. NewEdge Advisors LLC boosted its holdings in MasTec by 32.6% in the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,083 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of MasTec during the 2nd quarter worth approximately $271,000. Farther Finance Advisors LLC increased its holdings in shares of MasTec by 228.6% during the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock worth $47,000 after purchasing an additional 192 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of MasTec by 25.9% in the second quarter. Janney Montgomery Scott LLC now owns 5,468 shares of the construction company’s stock valued at $932,000 after buying an additional 1,125 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Transactions at MasTec

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

MasTec Stock Performance

NYSE MTZ opened at $240.80 on Friday. The firm’s fifty day moving average price is $225.72 and its two-hundred day moving average price is $204.49. The stock has a market cap of $19.00 billion, a PE ratio of 57.20 and a beta of 1.91. MasTec, Inc. has a fifty-two week low of $99.70 and a fifty-two week high of $250.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised MasTec from a “hold” rating to a “buy” rating in a research report on Sunday, January 25th. KeyCorp restated an “overweight” rating and issued a $264.00 price target on shares of MasTec in a research report on Wednesday, January 7th. Guggenheim reaffirmed a “neutral” rating and issued a $215.00 price target on shares of MasTec in a research note on Wednesday, October 15th. Barclays increased their price objective on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Stifel Nicolaus boosted their target price on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $238.16.

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.