Axa boosted its holdings in MasTec, Inc. (NYSE:MTZ) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 185,644 shares of the construction company’s stock after purchasing an additional 24,122 shares during the quarter. Axa owned about 0.22% of MasTec worth $9,087,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of MTZ. FNY Partners Fund LP bought a new stake in MasTec in the fourth quarter worth approximately $122,000. Steward Partners Investment Advisory LLC bought a new stake in MasTec in the fourth quarter worth approximately $146,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MasTec by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock worth $166,000 after purchasing an additional 1,175 shares in the last quarter. Cpwm LLC bought a new stake in MasTec in the fourth quarter worth approximately $208,000. Finally, Envestnet Asset Management Inc. increased its holdings in MasTec by 67.6% in the third quarter. Envestnet Asset Management Inc. now owns 4,479 shares of the construction company’s stock worth $209,000 after purchasing an additional 1,807 shares in the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.
MTZ has been the subject of a number of research analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $69.00 target price (up from $58.00) on shares of MasTec in a report on Thursday, January 18th. ValuEngine downgraded MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Craig Hallum lifted their target price on MasTec from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Stifel Nicolaus lifted their target price on MasTec from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Robert W. Baird set a $56.00 target price on MasTec and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $61.01.
In other MasTec news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $55.07, for a total value of $1,376,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cardenas Alberto De sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $49.55, for a total value of $743,250.00. Following the completion of the sale, the executive vice president now directly owns 110,502 shares of the company’s stock, valued at approximately $5,475,374.10. The disclosure for this sale can be found here. Insiders sold 94,607 shares of company stock valued at $4,887,214 in the last three months. Insiders own 20.30% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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