SG Capital Management LLC Has $8.52 Million Holdings in MasTec, Inc. $MTZ

SG Capital Management LLC trimmed its holdings in MasTec, Inc. (NYSE:MTZ) by 83.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,012 shares of the construction company’s stock after selling 254,505 shares during the period. SG Capital Management LLC’s holdings in MasTec were worth $8,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MTZ. Cetera Investment Advisers grew its position in shares of MasTec by 10.1% in the 2nd quarter. Cetera Investment Advisers now owns 15,904 shares of the construction company’s stock valued at $2,711,000 after purchasing an additional 1,459 shares during the period. Creative Planning lifted its stake in MasTec by 19.9% in the second quarter. Creative Planning now owns 6,221 shares of the construction company’s stock valued at $1,060,000 after buying an additional 1,033 shares in the last quarter. Pinnbrook Capital Management LP acquired a new position in shares of MasTec in the second quarter valued at approximately $10,523,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of MasTec by 7.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,752 shares of the construction company’s stock worth $2,685,000 after acquiring an additional 1,036 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new position in MasTec in the 2nd quarter worth $228,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 0.9%

NYSE MTZ opened at $191.81 on Friday. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $224.03. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $202.78 and a 200-day moving average of $179.81. The company has a market cap of $15.13 billion, a PE ratio of 56.75 and a beta of 1.88.

Insider Activity

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer owned 184,249 shares in the company, valued at approximately $36,930,869.56. This trade represents a 5.15% decrease in their ownership of the stock. The transaction 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 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 value 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 SEC filing for this sale provides additional information. Insiders 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.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of research reports. Roth Capital boosted their price target on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Mizuho set a $254.00 price target on MasTec in a research report on Monday, November 3rd. Baird R W raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. KeyCorp lifted their price objective on shares of MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, Wall Street Zen cut shares of MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.44.

About MasTec

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.