MasTec, Inc. $MTZ Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in MasTec, Inc. (NYSE:MTZ) by 10.1% during the second quarter, Holdings Channel.com reports. The firm owned 15,904 shares of the construction company’s stock after purchasing an additional 1,459 shares during the quarter. Cetera Investment Advisers’ holdings in MasTec were worth $2,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MTZ. Goldman Sachs Group Inc. boosted its holdings in MasTec by 163.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock valued at $121,843,000 after purchasing an additional 648,184 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of MasTec by 171.2% during the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock valued at $45,607,000 after acquiring an additional 246,666 shares during the period. AQR Capital Management LLC raised its stake in shares of MasTec by 23.6% during the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock worth $106,234,000 after buying an additional 184,277 shares during the last quarter. Nuveen LLC purchased a new stake in MasTec in the 1st quarter valued at approximately $21,208,000. Finally, Lord Abbett & CO. LLC lifted its holdings in MasTec by 77.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 307,419 shares of the construction company’s stock valued at $35,879,000 after purchasing an additional 134,493 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of NYSE:MTZ opened at $210.80 on Friday. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 62.37 and a beta of 1.88. The business has a fifty day simple moving average of $204.86 and a 200 day simple moving average of $183.58. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of research analyst reports. TD Cowen raised their price target on MasTec from $175.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Barclays lifted their price objective on MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Stifel Nicolaus boosted their price objective on MasTec from $198.00 to $237.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Baird R W raised MasTec from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.44.

Insider Transactions at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction on 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 represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $190.39, for a total transaction of $571,170.00. Following the sale, the director owned 35,277 shares in the company, valued at approximately $6,716,388.03. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,929 shares of company stock worth $3,394,013. Company insiders own 21.30% of the company’s stock.

MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.