Profund Advisors LLC Invests $242,000 in MasTec, Inc. $MTZ

Profund Advisors LLC bought a new position in MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,421 shares of the construction company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also modified their holdings of MTZ. Parkside Financial Bank & Trust raised its position in MasTec by 253.7% in 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 acquired a new stake in shares of MasTec in the second quarter valued at $35,000. Farther Finance Advisors LLC increased its stake in shares of MasTec by 228.6% in the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after buying an additional 192 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of MasTec in the second quarter valued at about $49,000. Finally, Parallel Advisors LLC lifted its position in MasTec by 37.1% during the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after buying an additional 82 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTZ has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. UBS Group raised their price target on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Barclays boosted their price objective 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. Mizuho set a $254.00 price objective on MasTec in a research report on Monday, November 3rd. Finally, Stifel Nicolaus boosted their target price on MasTec from $198.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Two 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. Based on data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and a consensus target price of $229.44.

Insider Transactions at MasTec

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer directly owned 184,249 shares in the company, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,929 shares of company stock valued at $3,394,013 over the last three months. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Up 0.9%

Shares of MasTec stock opened at $191.81 on Friday. The business has a fifty day simple moving average of $202.78 and a 200 day simple moving average of $180.17. The stock has a market cap of $15.13 billion, a PE ratio of 56.75 and a beta of 1.88. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $224.03.

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.