Merit Financial Group LLC Takes Position in MasTec, Inc. (NYSE:MTZ)

Merit Financial Group LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,049 shares of the construction company’s stock, valued at approximately $415,000.

A number of other hedge funds have also added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB bought a new stake in MasTec during the third quarter worth $25,000. UMB Bank n.a. raised its holdings in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of MasTec during the 3rd quarter worth $57,000. GAMMA Investing LLC boosted its stake in MasTec by 39.9% in the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after buying an additional 146 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in MasTec in the third quarter valued at about $84,000. 78.10% of the stock is owned by institutional investors.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,023 shares of company stock worth $4,515,089 over the last ninety days. 21.30% of the stock is owned by insiders.

MasTec Stock Up 0.6 %

Shares of MTZ opened at $160.08 on Friday. The stock’s 50-day moving average price is $142.40 and its two-hundred day moving average price is $125.48. MasTec, Inc. has a 12 month low of $62.87 and a 12 month high of $166.95. The company has a market capitalization of $12.68 billion, a PE ratio of 142.93 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Analysts Set New Price Targets

MTZ has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim initiated coverage on shares of MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group increased their price target on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.21.

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.