Wedge Capital Management L L P NC Raises Holdings in MasTec, Inc. $MTZ

Wedge Capital Management L L P NC raised its position in MasTec, Inc. (NYSE:MTZ) by 9.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 42,903 shares of the construction company’s stock after purchasing an additional 3,591 shares during the period. Wedge Capital Management L L P NC owned 0.05% of MasTec worth $9,130,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in MasTec by 4.1% during 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 last quarter. Hill City Capital LP lifted its stake in MasTec by 0.7% in the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company’s stock worth $250,343,000 after purchasing an additional 15,000 shares in the last quarter. Invesco Ltd. lifted its stake in MasTec by 6.1% in the 2nd quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock worth $300,817,000 after purchasing an additional 102,072 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of MasTec by 8.9% during the 2nd quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after purchasing an additional 138,269 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of MasTec by 11.3% in the second quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock valued at $181,961,000 after purchasing an additional 108,504 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the sale, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the transaction, the director directly owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. The trade was a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MTZ shares. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 15th. Roth Capital upped their price objective on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Jefferies Financial Group raised their price objective on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Mizuho set a $254.00 target price on shares of MasTec in a report on Monday, November 3rd. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.06.

MasTec Stock Up 2.1%

Shares of NYSE MTZ opened at $218.41 on Monday. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $233.14. The business’s 50 day moving average is $207.65 and its two-hundred day moving average is $191.04. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 51.88 and a beta of 1.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

MasTec 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.