Geode Capital Management LLC Grows Position in MasTec, Inc. (NYSE:MTZ)

Geode Capital Management LLC grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,026,295 shares of the construction company’s stock after purchasing an additional 16,844 shares during the quarter. Geode Capital Management LLC owned approximately 1.30% of MasTec worth $126,370,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of MasTec in the 2nd quarter valued at about $288,000. Blue Trust Inc. increased its position in shares of 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 buying an additional 138 shares in the last quarter. Raymond James & Associates raised its stake in shares of MasTec by 43.4% during the 2nd quarter. Raymond James & Associates now owns 48,230 shares of the construction company’s stock worth $5,160,000 after buying an additional 14,608 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of MasTec during the 2nd quarter valued at approximately $363,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in MasTec in the 2nd quarter valued at $215,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,823 shares of company stock valued at $7,144,521. 21.30% of the stock is currently owned by insiders.

MasTec Stock Down 2.3 %

Shares of NYSE:MTZ opened at $136.54 on Wednesday. MasTec, Inc. has a 52-week low of $60.96 and a 52-week high of $150.12. The stock has a market cap of $10.82 billion, a P/E ratio of 121.91 and a beta of 1.72. The business has a fifty day moving average of $134.73 and a two-hundred day moving average of $118.75. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MTZ shares. Robert W. Baird upped their price objective 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. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. KeyCorp lifted their price objective on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus lifted their price target on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.00.

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.