Brookwood Investment Group LLC Acquires New Holdings in MasTec, Inc. $MTZ

Brookwood Investment Group LLC bought a new stake in MasTec, Inc. (NYSE:MTZ) during the third quarter, Holdings Channel.com reports. The firm bought 2,210 shares of the construction company’s stock, valued at approximately $470,000.

Several other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in shares of MasTec by 143.8% in the 3rd quarter. True Wealth Design LLC now owns 451 shares of the construction company’s stock valued at $96,000 after acquiring an additional 266 shares during the last quarter. Salomon & Ludwin LLC raised its position in MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of MasTec in the 3rd quarter worth approximately $50,904,000. Allspring Global Investments Holdings LLC boosted its position in shares of MasTec by 92.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock valued at $13,981,000 after purchasing an additional 31,218 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in MasTec by 8.6% in the third quarter. Merit Financial Group LLC now owns 5,305 shares of the construction company’s stock valued at $1,129,000 after purchasing an additional 421 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Trading Up 4.7%

Shares of NYSE MTZ opened at $227.52 on Monday. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $233.14. The stock has a market capitalization of $17.95 billion, a P/E ratio of 54.04 and a beta of 1.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The business’s 50 day moving average is $211.27 and its two-hundred day moving average is $195.28.

Insider Activity at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the firm’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 sale, the chief accounting officer owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This trade represents a 16.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Stifel Nicolaus increased their price objective on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Barclays upped 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. Citigroup lifted their price target on MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, KeyCorp upped their target price on MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.