Geode Capital Management LLC Boosts Stake in MasTec, Inc. (NYSE:MTZ)

Geode Capital Management LLC increased its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,026,295 shares of the construction company's stock after purchasing an additional 16,844 shares during the quarter. Geode Capital Management LLC owned 1.30% of MasTec worth $126,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. M&T Bank Corp boosted its position in MasTec by 5.4% during the third quarter. M&T Bank Corp now owns 3,614 shares of the construction company's stock worth $445,000 after purchasing an additional 184 shares in the last quarter. Barclays PLC increased its holdings in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after acquiring an additional 209,472 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in MasTec by 14.9% during the third quarter. Public Employees Retirement System of Ohio now owns 27,457 shares of the construction company's stock worth $3,380,000 after acquiring an additional 3,569 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of MasTec by 221.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 22,408 shares of the construction company's stock valued at $2,758,000 after purchasing an additional 15,437 shares in the last quarter. Finally, MML Investors Services LLC grew its position in shares of MasTec by 32.3% in the third quarter. MML Investors Services LLC now owns 19,803 shares of the construction company's stock valued at $2,438,000 after purchasing an additional 4,838 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTZ. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They set an "overweight" rating and a $153.00 price objective for the company. Citigroup increased their price objective on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Robert W. Baird boosted their target price on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Finally, UBS Group lifted their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.00.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the 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 completion of the sale, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 20,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,823 shares of company stock valued at $7,144,521 over the last ninety days. Corporate insiders own 21.30% of the company's stock.

MasTec Trading Down 4.3 %

MTZ stock traded down $5.83 during trading on Wednesday, reaching $130.71. 919,073 shares of the stock traded hands, compared to its average volume of 854,830. The firm has a market capitalization of $10.36 billion, a PE ratio of 116.71 and a beta of 1.72. 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's 50 day moving average price is $134.90 and its 200-day moving average price is $118.92. MasTec, Inc. has a 52-week low of $60.96 and a 52-week high of $150.12.

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.