Oppenheimer & Co. Inc. Takes $1.80 Million Position in MasTec, Inc. $MTZ

Oppenheimer & Co. Inc. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,472 shares of the construction company’s stock, valued at approximately $1,803,000.

A number of other large investors have also added to or reduced their stakes in MTZ. Linden Thomas Advisory Services LLC grew its holdings in MasTec by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 6,089 shares of the construction company’s stock worth $1,296,000 after acquiring an additional 86 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of MasTec during the third quarter valued at $219,000. Alps Advisors Inc. lifted its holdings in shares of MasTec by 71.9% during the third quarter. Alps Advisors Inc. now owns 4,625 shares of the construction company’s stock worth $984,000 after purchasing an additional 1,935 shares during the period. Concord Wealth Partners bought a new stake in shares of MasTec in the third quarter worth $140,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in MasTec in the third quarter valued at $211,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 1.7%

MasTec stock opened at $269.88 on Friday. The company has a market capitalization of $21.29 billion, a PE ratio of 64.11 and a beta of 1.94. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $276.79. The firm’s fifty day moving average is $234.33 and its 200 day moving average is $209.59. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Wall Street Analyst Weigh In

MTZ has been the topic of several recent research reports. Mizuho set a $254.00 target price on MasTec in a report on Monday, November 3rd. Stifel Nicolaus raised their price objective on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Barclays increased their target price on shares of MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Cantor Fitzgerald assumed coverage on shares of MasTec in a research report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MasTec has a consensus rating of “Buy” and an average target price of $238.16.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.