CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $10 Million Stock Position in MasTec, Inc. $MTZ

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 56.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,000 shares of the construction company’s stock after purchasing an additional 17,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in MasTec were worth $10,002,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in MasTec by 22.5% during the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock worth $58,000 after buying an additional 62 shares during the period. Parallel Advisors LLC lifted its stake in shares of MasTec by 37.1% in the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after acquiring an additional 82 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of MasTec by 4.9% in the second quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock worth $338,000 after acquiring an additional 93 shares during the period. ProShare Advisors LLC boosted its holdings in MasTec by 3.7% in the second quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company’s stock valued at $463,000 after acquiring an additional 97 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in MasTec by 15.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company’s stock valued at $89,000 after purchasing an additional 104 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $220.37 on Wednesday. MasTec, Inc. has a one year low of $99.70 and a one year high of $233.14. The company has a market cap of $17.39 billion, a PE ratio of 52.34 and a beta of 1.94. The stock has a 50-day moving average of $210.29 and a 200-day moving average of $194.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MTZ. Truist Financial boosted their price target on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. UBS Group increased their price target on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. KeyCorp boosted their price objective on MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Mizuho set a $254.00 target price on MasTec in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $232.06.

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.