Jennison Associates LLC Has $7.36 Million Stake in MasTec, Inc. (NYSE:MTZ)

Jennison Associates LLC raised its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 2,079.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,036 shares of the construction company's stock after purchasing an additional 51,557 shares during the period. Jennison Associates LLC owned 0.07% of MasTec worth $7,357,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Creative Planning bought a new position in shares of MasTec during the second quarter worth approximately $284,000. SG Americas Securities LLC increased its position in MasTec by 99.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,523 shares of the construction company's stock worth $926,000 after buying an additional 3,744 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of MasTec by 19.4% during the third quarter. Handelsbanken Fonder AB now owns 16,000 shares of the construction company's stock worth $1,970,000 after buying an additional 2,600 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of MasTec by 39.9% during the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company's stock worth $63,000 after buying an additional 146 shares in the last quarter. Finally, Daymark Wealth Partners LLC boosted its position in shares of MasTec by 17.7% in the third quarter. Daymark Wealth Partners LLC now owns 4,246 shares of the construction company's stock valued at $523,000 after acquiring an additional 640 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Trading Down 0.1 %

Shares of NYSE:MTZ traded down $0.09 during midday trading on Friday, hitting $144.96. 556,781 shares of the stock were exchanged, compared to its average volume of 1,019,363. The business's 50-day moving average price is $142.88 and its 200 day moving average price is $128.61. MasTec, Inc. has a 12 month low of $68.54 and a 12 month high of $166.95. 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 stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 129.43 and a beta of 1.73.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Guggenheim initiated coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price objective for the company. Robert W. Baird boosted their price target on MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. UBS Group raised their price objective on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, TD Cowen raised 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. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.57.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 187,202 shares of the company's stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were 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 $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

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.