Pacer Advisors Inc. Has $278.31 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Pacer Advisors Inc. raised its stake in shares of MasTec, Inc. (NYSE:MTZ) by 65.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,260,865 shares of the construction company’s stock after buying an additional 895,227 shares during the period. Pacer Advisors Inc. owned about 2.85% of MasTec worth $278,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Asset Management Inc boosted its position in MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after purchasing an additional 82 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. increased its holdings in MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after buying an additional 101 shares during the last quarter. UMB Bank n.a. raised its position in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after acquiring an additional 138 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Down 1.1 %

NYSE MTZ opened at $140.84 on Thursday. MasTec, Inc. has a twelve month low of $54.06 and a twelve month high of $147.23. The stock has a market cap of $11.16 billion, a PE ratio of 125.75 and a beta of 1.70. The firm has a 50-day simple moving average of $127.77 and a 200 day simple moving average of $114.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Analysts Set New Price Targets

Several brokerages have recently commented on MTZ. KeyCorp increased their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Robert W. Baird increased their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. TD Cowen upped their price target on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average target price of $148.62.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.37 % 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, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is currently owned by company insiders.

MasTec Company 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.