MasTec, Inc. (NYSE:MTZ) Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 14.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,524 shares of the construction company’s stock after purchasing an additional 2,155 shares during the quarter. Legato Capital Management LLC’s holdings in MasTec were worth $2,386,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after buying an additional 895,227 shares during the period. State Street Corp boosted its position in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the period. Geode Capital Management LLC increased its holdings in MasTec by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. raised its position in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

MasTec Stock Performance

Shares of NYSE MTZ opened at $140.41 on Wednesday. The stock has a market capitalization of $11.13 billion, a P/E ratio of 125.37 and a beta of 1.73. MasTec, Inc. has a 52-week low of $68.68 and a 52-week high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $142.87 and its two-hundred day moving average price is $129.40.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MTZ shares. Guggenheim began coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. B. Riley reaffirmed a “buy” rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Craig Hallum lifted their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, TD Cowen increased their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.57.

MasTec 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.