Pacer Advisors Inc. Purchases 895,227 Shares of MasTec, Inc. (NYSE:MTZ)

Pacer Advisors Inc. grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 65.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,260,865 shares of the construction company’s stock after buying an additional 895,227 shares during the quarter. Pacer Advisors Inc.’s holdings in MasTec were worth $278,312,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc grew its position in MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after acquiring an additional 82 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after buying an additional 100 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after buying an additional 101 shares during the last quarter. UMB Bank n.a. lifted its position in 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. Finally, Blue Trust Inc. increased its position in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,823 shares of company stock valued at $5,558,301 over the last quarter. Corporate insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MTZ. Craig Hallum increased their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. UBS Group increased their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson boosted their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Citigroup upped 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. Finally, B. Riley reiterated a “buy” rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Stock Down 1.1 %

NYSE:MTZ opened at $140.84 on Thursday. The stock has a 50-day moving average price of $127.77 and a two-hundred day moving average price of $114.56. MasTec, Inc. has a 1 year low of $54.06 and a 1 year high of $147.23. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 125.75 and a beta of 1.70.

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.