Sei Investments Co. raised its holdings in MasTec, Inc. (NYSE:MTZ) by 43.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252,544 shares of the construction company’s stock after buying an additional 76,893 shares during the period. Sei Investments Co. owned approximately 0.31% of MasTec worth $12,362,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisor Group Inc. boosted its position in MasTec by 27.6% in the 3rd quarter. Advisor Group Inc. now owns 11,543 shares of the construction company’s stock valued at $535,000 after buying an additional 2,496 shares during the period. Bank of New York Mellon Corp boosted its position in MasTec by 12.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 364,094 shares of the construction company’s stock valued at $16,893,000 after buying an additional 40,854 shares during the period. Point72 Asset Management L.P. boosted its position in MasTec by 112.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 690,800 shares of the construction company’s stock valued at $32,053,000 after buying an additional 365,400 shares during the period. Strategic Wealth Advisors Group LLC purchased a new position in MasTec in the 3rd quarter valued at approximately $601,000. Finally, 361 Capital LLC purchased a new position in MasTec in the 3rd quarter valued at approximately $2,212,000. 74.36% of the stock is owned by institutional investors.
In related news, COO Robert E. Apple sold 25,000 shares of MasTec stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $55.07, for a total transaction of $1,376,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 20.30% of the stock is owned by company insiders.
Shares of MasTec, Inc. (NYSE MTZ) opened at $52.65 on Friday. MasTec, Inc. has a one year low of $35.75 and a one year high of $55.53. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74. The company has a market cap of $4,191.83, a price-to-earnings ratio of 16.83, a P/E/G ratio of 1.16 and a beta of 1.49.
Several equities analysts have commented on MTZ shares. Citigroup set a $54.00 price target on shares of MasTec and gave the company a “buy” rating in a research report on Friday, October 27th. Robert W. Baird raised shares of MasTec from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $53.00 in a research report on Monday, November 6th. Credit Suisse Group reaffirmed an “outperform” rating and set a $69.00 price objective (up from $58.00) on shares of MasTec in a research report on Thursday, January 18th. Barclays initiated coverage on shares of MasTec in a research report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price objective for the company. Finally, Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Friday, January 19th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $58.94.
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MasTec Company Profile
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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