Jacobs Levy Equity Management Inc. Acquires 289,090 Shares of MasTec, Inc. (NYSE:MTZ)

Jacobs Levy Equity Management Inc. grew its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 266.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 397,467 shares of the construction company's stock after purchasing an additional 289,090 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.50% of MasTec worth $48,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MTZ. Boston Partners bought a new stake in shares of MasTec during the first quarter worth about $748,000. Texas Permanent School Fund Corp increased its position in shares of MasTec by 8.9% during the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company's stock worth $6,154,000 after acquiring an additional 4,716 shares in the last quarter. Atom Investors LP increased its position in shares of MasTec by 979.0% during the third quarter. Atom Investors LP now owns 61,018 shares of the construction company's stock worth $7,511,000 after acquiring an additional 55,363 shares in the last quarter. Makena Capital Management LLC increased its position in shares of MasTec by 41.4% during the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company's stock worth $10,728,000 after acquiring an additional 25,532 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of MasTec during the third quarter worth about $1,470,000. Institutional investors and hedge funds own 78.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTZ shares. The Goldman Sachs Group upped their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. UBS Group upped their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Craig Hallum upped their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Citigroup upped their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, TD Cowen increased their target price on shares of MasTec from $115.00 to $160.00 and gave the company 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 issued a buy rating to the company's stock. According to MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and an average target price of $148.62.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction on Friday, September 20th. The shares were 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 owns 217,202 shares of the company's stock, valued at $27,426,096.54. This represents a 8.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 55,823 shares of company stock worth $7,493,301 in the last three months. 21.30% of the stock is currently owned by corporate insiders.

MasTec Price Performance

NYSE MTZ traded down $2.63 on Wednesday, hitting $140.83. The stock had a trading volume of 291,679 shares, compared to its average volume of 853,926. MasTec, Inc. has a 52-week low of $60.96 and a 52-week high of $150.12. 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 company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 128.01 and a beta of 1.72. The firm has a 50-day moving average of $132.25 and a 200-day moving average of $116.98.

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.