Krilogy Financial LLC Buys New Position in MasTec, Inc. $MTZ

Krilogy Financial LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,883 shares of the construction company’s stock, valued at approximately $574,000.

Several other hedge funds also recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in MasTec by 5.8% in the third quarter. Advisors Asset Management Inc. now owns 42,602 shares of the construction company’s stock worth $9,066,000 after purchasing an additional 2,334 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of MasTec by 9.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,884 shares of the construction company’s stock worth $614,000 after purchasing an additional 245 shares in the last quarter. MQS Management LLC grew its stake in shares of MasTec by 60.1% in the 3rd quarter. MQS Management LLC now owns 2,890 shares of the construction company’s stock valued at $615,000 after buying an additional 1,085 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of MasTec in the 3rd quarter valued at about $1,803,000. Finally, Linden Thomas Advisory Services LLC increased its position in MasTec by 1.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 6,089 shares of the construction company’s stock valued at $1,296,000 after buying an additional 86 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $269.88 on Friday. The stock has a 50 day moving average of $234.33 and a 200 day moving average of $209.74. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 64.11 and a beta of 1.94. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $276.79. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69.

Analysts Set New Price Targets

A number of brokerages have commented on MTZ. Citigroup raised their price objective on MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Cantor Fitzgerald assumed coverage on MasTec in a report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of MasTec from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Buy” and an average price target of $238.16.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.