MasTec, Inc. $MTZ Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its holdings in MasTec, Inc. (NYSE:MTZ) by 33.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,828 shares of the construction company’s stock after buying an additional 3,739 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in MasTec were worth $3,158,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd lifted its holdings in MasTec by 370.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company’s stock worth $86,384,000 after buying an additional 399,007 shares in the last quarter. Hennessy Advisors Inc. bought a new position in MasTec during the 3rd quarter valued at $50,904,000. Vanguard Group Inc. increased its position in shares of MasTec by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock worth $1,017,858,000 after purchasing an additional 234,594 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of MasTec by 42.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 555,486 shares of the construction company’s stock valued at $94,672,000 after purchasing an additional 164,722 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in 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 buying an additional 138,269 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Trading Up 2.6%

Shares of NYSE:MTZ opened at $242.06 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 57.50 and a beta of 1.91. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $249.21. The company has a 50 day moving average price of $216.84 and a 200 day moving average price of $200.09.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of recent research reports. UBS Group raised their price target on shares of MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Jefferies Financial Group lifted their price objective on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Zacks Research raised MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $233.06.

Insider Buying and Selling at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of MasTec 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 transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. The trade was a 16.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.30% of the stock is currently owned by corporate insiders.

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.