Sheets Smith Investment Management Takes Position in MasTec, Inc. $MTZ

Sheets Smith Investment Management acquired a new position in MasTec, Inc. (NYSE:MTZ) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,011 shares of the construction company’s stock, valued at approximately $854,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTZ. Brighton Jones LLC purchased a new stake in MasTec during the 4th quarter valued at approximately $227,000. Dimensional Fund Advisors LP boosted its position in shares of MasTec by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock worth $142,331,000 after acquiring an additional 39,622 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in MasTec by 6.0% during the first quarter. State of New Jersey Common Pension Fund D now owns 23,540 shares of the construction company’s stock valued at $2,747,000 after acquiring an additional 1,323 shares in the last quarter. Raymond James Financial Inc. increased its holdings in MasTec by 31.8% in the 1st quarter. Raymond James Financial Inc. now owns 172,099 shares of the construction company’s stock valued at $20,085,000 after acquiring an additional 41,526 shares during the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in MasTec in the 1st quarter worth $263,000. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. UBS Group lifted their price objective on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Roth Capital upped their price objective on MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Jefferies Financial Group raised their target price on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Stifel Nicolaus boosted their price target on shares of MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $232.06.

MasTec Stock Up 2.1%

Shares of MTZ opened at $213.71 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $207.19 and a 200 day moving average of $190.16. The company has a market cap of $16.86 billion, a PE ratio of 50.76 and a beta of 1.94. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $233.14.

Insider Activity

In related news, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the transaction, the director directly owned 33,277 shares in the company, valued at approximately $7,001,148.03. This represents a 5.67% decrease in their position. 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 firm’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 21.30% of the company’s stock.

MasTec Company 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.