CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires New Holdings in MasTec, Inc. (NYSE:MTZ)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,000 shares of the construction company's stock, valued at approximately $2,451,000.

Several other hedge funds also recently bought and sold shares of MTZ. Exchange Traded Concepts LLC lifted its holdings in shares of MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock valued at $2,433,000 after buying an additional 13,241 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in MasTec during the fourth quarter valued at approximately $256,000. Brighton Jones LLC acquired a new stake in MasTec in the fourth quarter valued at approximately $227,000. Janney Montgomery Scott LLC grew its position in MasTec by 82.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,824 shares of the construction company's stock worth $1,065,000 after acquiring an additional 3,527 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of MasTec by 6.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,397 shares of the construction company's stock worth $1,687,000 after purchasing an additional 724 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on MTZ. Stifel Nicolaus lifted their price objective on shares of MasTec from $155.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday. TD Cowen boosted their price target on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. KeyCorp increased their price objective on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Truist Financial boosted their target price on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group increased their price target 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 thirteen have given a buy rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of "Moderate Buy" and a consensus target price of $157.21.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now owns 187,202 shares of the company's stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company's stock, valued at $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,023 shares of company stock worth $4,515,089 over the last ninety days. Company insiders own 21.30% of the company's stock.

MasTec Trading Down 0.4 %

MasTec stock traded down $0.71 during trading hours on Friday, reaching $159.50. 602,496 shares of the company's stock traded hands, compared to its average volume of 654,277. MasTec, Inc. has a fifty-two week low of $63.97 and a fifty-two week high of $166.95. The firm's 50 day moving average is $143.34 and its 200-day moving average is $126.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 142.41 and a beta of 1.74.

MasTec 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.