Appian Way Asset Management LP Grows Holdings in MasTec, Inc. (NYSE:MTZ)

Appian Way Asset Management LP boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 21.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,400 shares of the construction company’s stock after acquiring an additional 33,526 shares during the quarter. MasTec accounts for about 5.2% of Appian Way Asset Management LP’s portfolio, making the stock its 6th largest position. Appian Way Asset Management LP’s holdings in MasTec were worth $23,315,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MTZ. Hobbs Group Advisors LLC bought a new position in MasTec during the 2nd quarter worth $27,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of MasTec in the second quarter worth approximately $40,000. UMB Bank n.a. boosted its holdings in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Finally, Blue Trust Inc. increased its position in MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares during the period. Institutional investors own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at $28,080,300. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,823 shares of company stock worth $7,493,301 over the last quarter. Corporate insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MTZ shares. UBS Group boosted their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson lifted their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. KeyCorp raised their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, B. Riley restated a “buy” rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Trading Down 0.3 %

Shares of MTZ opened at $144.06 on Friday. MasTec, Inc. has a fifty-two week low of $57.38 and a fifty-two week high of $150.12. The business has a 50-day moving average of $131.53 and a 200 day moving average of $116.34. The firm has a market cap of $11.42 billion, a P/E ratio of 128.63 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec Company 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.