Geode Capital Management LLC Increases Stock Position in MasTec, Inc. (NYSE:MTZ)

Geode Capital Management LLC grew its stake in MasTec, Inc. (NYSE:MTZ) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 1,026,295 shares of the construction company’s stock after acquiring an additional 16,844 shares during the period. Geode Capital Management LLC’s holdings in MasTec were worth $126,370,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Atom Investors LP raised its position in MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after purchasing an additional 55,363 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after buying an additional 4,716 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of MasTec in the 3rd quarter valued at $1,470,000. State Street Corp lifted its stake in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares in the last quarter. Finally, Makena Capital Management LLC boosted its holdings in MasTec by 41.4% during the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after acquiring an additional 25,532 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Down 2.3 %

MTZ opened at $136.54 on Wednesday. The business’s 50-day simple moving average is $134.73 and its 200-day simple moving average is $118.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12. The stock has a market capitalization of $10.82 billion, a P/E ratio of 121.91 and a beta of 1.72.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were 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 in the company, valued at $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,823 shares of company stock worth $7,144,521. Company insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MTZ shares. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. UBS Group increased their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. B. Riley restated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, TD Cowen upped their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $149.00.

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.