Jackson Creek Investment Advisors LLC Trims Stock Position in MasTec, Inc. $MTZ

Jackson Creek Investment Advisors LLC trimmed its stake in shares of MasTec, Inc. (NYSE:MTZ) by 20.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,400 shares of the construction company’s stock after selling 3,001 shares during the quarter. MasTec comprises 0.7% of Jackson Creek Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Jackson Creek Investment Advisors LLC’s holdings in MasTec were worth $2,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of MTZ. Versant Capital Management Inc raised its stake in shares of MasTec by 4.9% during the third quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock worth $232,000 after purchasing an additional 51 shares during the last quarter. Rothschild Investment LLC raised its position in MasTec by 22.5% during the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock worth $58,000 after buying an additional 62 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in MasTec by 4.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock worth $453,000 after buying an additional 91 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of MasTec by 4.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock worth $338,000 after acquiring an additional 93 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in shares of MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of MTZ stock opened at $245.14 on Tuesday. The stock has a fifty day moving average price of $226.54 and a 200 day moving average price of $205.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The stock has a market cap of $19.34 billion, a PE ratio of 58.23 and a beta of 1.94. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $250.99.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MTZ shares. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Mizuho set a $254.00 price target on MasTec in a report on Monday, November 3rd. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Citigroup increased their price objective on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Guggenheim reissued a “neutral” rating and issued a $215.00 target price on shares of MasTec in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MasTec has a consensus rating of “Buy” and an average target price of $238.16.

MasTec 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.