Great Lakes Advisors LLC Sells 53,006 Shares of MasTec, Inc. $MTZ

Great Lakes Advisors LLC lowered its stake in MasTec, Inc. (NYSE:MTZ) by 43.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,069 shares of the construction company’s stock after selling 53,006 shares during the quarter. Great Lakes Advisors LLC’s holdings in MasTec were worth $14,486,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in MasTec in the fourth quarter worth $227,000. NewEdge Advisors LLC raised its holdings in shares of MasTec by 32.6% during the first quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,083 shares during the period. Sivia Capital Partners LLC bought a new position in shares of MasTec during the 2nd quarter worth about $271,000. Farther Finance Advisors LLC grew its stake in shares of MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after buying an additional 192 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in MasTec by 25.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,468 shares of the construction company’s stock valued at $932,000 after buying an additional 1,125 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Down 0.1%

MTZ stock opened at $244.58 on Friday. The firm has a market capitalization of $19.30 billion, a PE ratio of 58.09 and a beta of 1.91. 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, Inc. has a twelve month low of $99.70 and a twelve month high of $250.99. The stock’s 50 day moving average is $224.77 and its 200-day moving average is $203.79.

Insiders Place Their Bets

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of research reports. Wall Street Zen upgraded MasTec from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Citigroup boosted their price objective on MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus upped their target price on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Barclays increased their target price on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Robert W. Baird boosted their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, MasTec has an average rating of “Buy” and an average price target of $238.16.

About MasTec

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.