Wedbush Securities Inc. Invests $204,000 in MasTec, Inc. $MTZ

Wedbush Securities Inc. purchased a new stake in MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, HoldingsChannel reports. The fund purchased 1,197 shares of the construction company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hill City Capital LP boosted its holdings 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 acquiring an additional 15,000 shares during the period. Dimensional Fund Advisors LP boosted its position in MasTec by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock valued at $142,331,000 after buying an additional 39,622 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of MasTec by 163.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock valued at $121,843,000 after acquiring an additional 648,184 shares in the last quarter. AQR Capital Management LLC increased its position in shares of MasTec by 23.6% during the first quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock worth $106,234,000 after acquiring an additional 184,277 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of MasTec by 14.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 442,363 shares of the construction company’s stock worth $51,628,000 after acquiring an additional 55,332 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling

In other news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the completion of the transaction, the director directly owned 33,277 shares of the company’s stock, valued at $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,929 shares of company stock valued at $3,394,013 in the last quarter. Company insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MTZ. JPMorgan Chase & Co. lifted their price objective on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Robert W. Baird upped 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. TD Cowen increased their price objective on shares of MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Jefferies Financial Group boosted their target price 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. Finally, Barclays increased their price target on shares of MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.44.

MasTec Price Performance

Shares of MTZ opened at $189.91 on Friday. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $224.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The stock has a fifty day moving average price of $202.51 and a 200 day moving average price of $179.35. The company has a market cap of $14.98 billion, a P/E ratio of 56.19 and a beta of 1.88.

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.