Hodges Capital Management Inc. Acquires Shares of 11,250 MasTec, Inc. (NYSE:MTZ)

Hodges Capital Management Inc. bought a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,250 shares of the construction company's stock, valued at approximately $1,385,000.

A number of other institutional investors have also modified their holdings of MTZ. Cetera Advisors LLC purchased a new position in shares of MasTec during the first quarter worth approximately $268,000. GAMMA Investing LLC increased its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock worth $39,000 after acquiring an additional 144 shares during the period. CWM LLC increased its holdings in MasTec by 494.2% during the second quarter. CWM LLC now owns 4,094 shares of the construction company's stock valued at $438,000 after buying an additional 3,405 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in MasTec during the second quarter valued at approximately $288,000. Finally, DMC Group LLC increased its holdings in MasTec by 13.3% during the second quarter. DMC Group LLC now owns 3,219 shares of the construction company's stock valued at $344,000 after buying an additional 378 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MTZ. JPMorgan Chase & Co. began coverage on shares of MasTec in a report on Monday, October 7th. They set an "overweight" rating and a $153.00 price objective on the stock. B. Riley reissued a "buy" rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, October 10th. 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. Finally, Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, MasTec presently has an average rating of "Moderate Buy" and an average price target of $148.62.

MasTec Stock Performance

Shares of NYSE:MTZ traded down $8.12 on Monday, hitting $133.80. 1,041,009 shares of the company were exchanged, compared to its average volume of 856,445. MasTec, Inc. has a 1-year low of $60.96 and a 1-year high of $150.12. The stock's 50 day moving average price is $133.61 and its 200 day moving average price is $117.84. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $10.60 billion, a P/E ratio of 119.46 and a beta of 1.72.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of the firm's stock in a transaction 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 transaction, the chief operating officer now owns 217,202 shares of the company's stock, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm's 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 transaction, the director now directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,823 shares of company stock worth $7,493,301. Company insiders own 21.30% of the company's stock.

MasTec Company 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.