MasTec, Inc. $MTZ Shares Bought by Marco Investment Management LLC

Marco Investment Management LLC grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 28.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,605 shares of the construction company’s stock after purchasing an additional 6,955 shares during the quarter. Marco Investment Management LLC’s holdings in MasTec were worth $6,726,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in MasTec by 92.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after buying an additional 31,218 shares during the last quarter. Bridge City Capital LLC grew its holdings in shares of MasTec by 27.2% in the 2nd quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock worth $8,412,000 after acquiring an additional 10,565 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of MasTec in the 2nd quarter worth $12,366,000. Sterling Capital Management LLC raised its position in shares of MasTec by 16.3% during the second quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock worth $13,472,000 after purchasing an additional 11,071 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of MasTec by 71.6% during the second quarter. Osaic Holdings Inc. now owns 30,118 shares of the construction company’s stock valued at $5,132,000 after purchasing an additional 12,567 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird boosted their price objective on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Truist Financial upped 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. Cantor Fitzgerald began coverage on shares of MasTec in a research report on Friday, January 23rd. They set an “overweight” rating and a $274.00 price objective on the stock. Citigroup increased their target price on MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. lifted their price target on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $238.16.

MasTec Trading Up 1.9%

MasTec stock opened at $245.14 on Tuesday. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $250.99. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. The stock has a market cap of $19.34 billion, a P/E ratio of 58.23 and a beta of 1.94. The company’s fifty day simple moving average is $226.54 and its 200-day simple moving average is $205.18.

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.