Mirae Asset Global Investments Co. Ltd. Invests $84,000 in MasTec, Inc. (NYSE:MTZ)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 685 shares of the construction company’s stock, valued at approximately $84,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWC Advisors LLC. bought a new stake in shares of MasTec in the third quarter valued at about $444,000. Assenagon Asset Management S.A. increased its position in MasTec by 31.4% during the third quarter. Assenagon Asset Management S.A. now owns 326,482 shares of the construction company’s stock worth $40,190,000 after acquiring an additional 77,976 shares during the period. Ausbil Investment Management Ltd acquired a new stake in MasTec in the 3rd quarter worth about $689,000. International Assets Investment Management LLC boosted its holdings in MasTec by 12,210.0% in the 3rd quarter. International Assets Investment Management LLC now owns 129,255 shares of the construction company’s stock valued at $15,911,000 after purchasing an additional 128,205 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in shares of MasTec during the 3rd quarter worth approximately $901,000. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of NYSE:MTZ opened at $132.61 on Tuesday. MasTec, Inc. has a one year low of $46.70 and a one year high of $138.87. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 118.40 and a beta of 1.70. The firm has a 50 day simple moving average of $119.20 and a 200 day simple moving average of $110.03.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,800 shares of company stock worth $2,978,212. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTZ. Citigroup boosted their price target on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen upped their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird raised their price target on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday. KeyCorp boosted their price target on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus increased their price objective on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $143.08.

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.