Smithfield Trust Co Raises Stock Holdings in MasTec, Inc. $MTZ

Smithfield Trust Co grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 713.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 610 shares of the construction company’s stock after buying an additional 535 shares during the period. Smithfield Trust Co’s holdings in MasTec were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Forum Financial Management LP raised its stake in MasTec by 3.9% during the 1st quarter. Forum Financial Management LP now owns 2,097 shares of the construction company’s stock worth $245,000 after acquiring an additional 78 shares during the period. Parallel Advisors LLC boosted its position in shares of MasTec by 37.1% in the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after purchasing an additional 82 shares during the period. Verdence Capital Advisors LLC raised its position in shares of MasTec by 4.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after purchasing an additional 93 shares during the period. ProShare Advisors LLC raised its position in shares of MasTec by 3.7% during the 2nd quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company’s stock valued at $463,000 after purchasing an additional 97 shares during the period. Finally, Securian Asset Management Inc. lifted its stake in shares of MasTec by 2.2% during the 1st quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock valued at $551,000 after buying an additional 100 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Price Performance

NYSE:MTZ opened at $189.91 on Friday. The business’s 50-day moving average is $202.51 and its 200 day moving average is $179.35. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $224.03. The company has a market capitalization of $14.98 billion, a P/E ratio of 56.19 and a beta of 1.88. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTZ shares. Baird R W upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Stifel Nicolaus increased their target price on MasTec from $198.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Jefferies Financial Group lifted their target price on MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group upped their price target on MasTec from $195.00 to $227.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Wolfe Research raised shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.44.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer owned 184,249 shares in the company, valued at approximately $36,930,869.56. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Timothy Michael Love sold 1,929 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This trade represents a 16.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,929 shares of company stock valued at $3,394,013 in the last ninety days. Corporate insiders own 21.30% of the company’s stock.

MasTec 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.