Whalen Wealth Management Inc. Invests $532,000 in MasTec, Inc. $MTZ

Whalen Wealth Management Inc. purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,499 shares of the construction company’s stock, valued at approximately $532,000.

Several other hedge funds have also bought and sold shares of MTZ. Caldwell Trust Co bought a new position in shares of MasTec during the second quarter valued at approximately $29,000. Parkside Financial Bank & Trust boosted its stake in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after purchasing an additional 137 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of MasTec in the 2nd quarter worth $35,000. Evelyn Partners Asset Management Ltd purchased a new position in shares of MasTec in the second quarter worth $43,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of MasTec by 228.6% during the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 2.1%

Shares of MasTec stock opened at $213.71 on Friday. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $233.14. The company’s fifty day simple moving average is $207.19 and its 200-day simple moving average is $190.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The stock has a market capitalization of $16.86 billion, a PE ratio of 50.76 and a beta of 1.94.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the sale, the director owned 33,277 shares in the company, valued at approximately $7,001,148.03. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction that occurred 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 directly owned 9,757 shares in the company, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wolfe Research raised MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Wednesday, September 17th. Robert W. Baird boosted their price objective on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. UBS Group increased their price objective on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Citigroup lifted their target price on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research note on Monday. Two investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.06.

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.