Rhumbline Advisers Boosts Stake in MasTec, Inc. $MTZ

Rhumbline Advisers increased its stake in MasTec, Inc. (NYSE:MTZ) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,802 shares of the construction company’s stock after purchasing an additional 2,176 shares during the period. Rhumbline Advisers’ holdings in MasTec were worth $29,110,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of MasTec by 163.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock valued at $121,843,000 after buying an additional 648,184 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in MasTec by 171.2% in the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock worth $45,607,000 after buying an additional 246,666 shares during the period. Vanguard Group Inc. lifted its stake in MasTec by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock worth $1,017,858,000 after acquiring an additional 234,594 shares during the period. AQR Capital Management LLC lifted its position in shares of MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock worth $106,234,000 after purchasing an additional 184,277 shares during the period. Finally, Nuveen LLC bought a new stake in MasTec during the 1st quarter valued at approximately $21,208,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Transactions at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $190.39, for a total transaction of $571,170.00. Following the transaction, the director directly 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,929 shares of company stock worth $3,394,013. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTZ. DA Davidson set a $210.00 target price on shares of MasTec and gave the company a “buy” rating in a report on Monday, August 4th. Citigroup increased their target price on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Robert W. Baird boosted their target price on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Roth Capital increased their price objective on shares of MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Barclays lifted their target price on MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.44.

MasTec Stock Up 2.4%

Shares of NYSE:MTZ opened at $210.80 on Thursday. The business has a 50 day simple moving average of $204.63 and a two-hundred day simple moving average of $183.39. The firm has a market capitalization of $16.63 billion, a PE ratio of 62.37 and a beta of 1.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03.

About MasTec

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.