Makena Capital Management LLC Lowers Position in MasTec, Inc. $MTZ

Makena Capital Management LLC trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 19.6% during the 3rd quarter, Holdings Channel reports. The fund owned 122,085 shares of the construction company’s stock after selling 29,721 shares during the period. MasTec comprises about 2.7% of Makena Capital Management LLC’s portfolio, making the stock its 12th largest position. Makena Capital Management LLC’s holdings in MasTec were worth $25,981,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in shares of MasTec by 92.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after purchasing an additional 31,218 shares during the period. Thrivent Financial for Lutherans increased its holdings in MasTec by 14.9% during the third quarter. Thrivent Financial for Lutherans now owns 16,593 shares of the construction company’s stock valued at $3,531,000 after buying an additional 2,158 shares during the period. Bridge City Capital LLC raised its stake in MasTec by 27.2% in the second quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock worth $8,412,000 after buying an additional 10,565 shares in the last quarter. Schroder Investment Management Group purchased a new stake in MasTec during the second quarter worth $12,366,000. Finally, Marco Investment Management LLC lifted its holdings in MasTec by 28.2% during the third quarter. Marco Investment Management LLC now owns 31,605 shares of the construction company’s stock worth $6,726,000 after buying an additional 6,955 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MTZ shares. Wall Street Zen upgraded MasTec from a “hold” rating to a “buy” rating in a report on Sunday. Cantor Fitzgerald began coverage on MasTec in a research report on Friday, January 23rd. They set an “overweight” rating and a $274.00 price objective on the stock. Mizuho set a $254.00 target price on shares of MasTec in a report on Monday, November 3rd. Truist Financial increased 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. Finally, Robert W. Baird raised their price target on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, MasTec has an average rating of “Buy” and a consensus target price of $238.16.

MasTec Trading Up 2.9%

Shares of NYSE:MTZ opened at $283.58 on Monday. The business’s 50-day moving average is $239.09 and its 200 day moving average is $213.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $284.68. The firm has a market capitalization of $22.37 billion, a P/E ratio of 67.36 and a beta of 1.94.

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.