Edgestream Partners L.P. Acquires New Position in MasTec, Inc. (NYSE:MTZ)

Edgestream Partners L.P. acquired a new position in MasTec, Inc. (NYSE:MTZ - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,927 shares of the construction company's stock, valued at approximately $1,222,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company's stock valued at $146,110,000 after buying an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in MasTec in the second quarter valued at approximately $79,494,000. Hood River Capital Management LLC increased its holdings in shares of MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock valued at $127,773,000 after acquiring an additional 446,762 shares in the last quarter. AQR Capital Management LLC raised its position in shares of MasTec by 3,439.7% during the second quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company's stock worth $28,085,000 after purchasing an additional 255,088 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of MasTec by 205.4% in the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company's stock worth $34,613,000 after purchasing an additional 190,320 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction 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. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,823 shares of company stock worth $7,493,301 in the last quarter. 21.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MTZ. Citigroup upped their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Craig Hallum upped their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, November 4th. B. Riley reiterated a "buy" rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group raised their target price on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.62.

MasTec Stock Performance

Shares of MasTec stock traded down $1.80 during trading hours on Thursday, reaching $141.27. The company had a trading volume of 832,605 shares, compared to its average volume of 856,593. The firm has a market cap of $11.19 billion, a PE ratio of 127.70 and a beta of 1.72. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12. 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 business has a fifty day simple moving average of $132.64 and a 200 day simple moving average of $117.16.

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.