MasTec, Inc. (NYSE:MTZ) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in MasTec, Inc. (NYSE:MTZ) by 82.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,824 shares of the construction company’s stock after acquiring an additional 3,527 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MasTec were worth $1,065,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MTZ. Pacer Advisors Inc. grew its holdings in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after purchasing an additional 895,227 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares in the last quarter. Point72 Asset Management L.P. grew its stake in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares during the period. Barclays PLC increased its holdings in MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after acquiring an additional 209,472 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after acquiring an additional 190,320 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTZ. The Goldman Sachs Group lifted their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. B. Riley reaffirmed a “buy” rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned 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 $158.57.

MasTec Price Performance

Shares of MTZ stock opened at $137.61 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $10.90 billion, a PE ratio of 122.86 and a beta of 1.73. The firm’s 50-day moving average is $142.85 and its two-hundred day moving average is $128.24. MasTec, Inc. has a 12 month low of $67.49 and a 12 month high of $166.95.

Insider Activity

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

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.