Legato Capital Management LLC increased its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,524 shares of the construction company's stock after acquiring an additional 2,155 shares during the quarter. Legato Capital Management LLC's holdings in MasTec were worth $2,386,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of MTZ. Wilmington Savings Fund Society FSB acquired a new position in MasTec during the third quarter worth $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the fourth quarter worth $25,000. R Squared Ltd acquired a new position in MasTec during the fourth quarter worth $44,000. UMB Bank n.a. raised its holdings in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in MasTec during the third quarter worth $57,000. 78.10% of the stock is owned by institutional investors.
MasTec Price Performance
Shares of MTZ stock traded down $1.48 during trading hours on Friday, hitting $135.48. 656,864 shares of the company's stock were exchanged, compared to its average volume of 1,019,363. The company has a market capitalization of $10.74 billion, a PE ratio of 120.96 and a beta of 1.73. MasTec, Inc. has a 12-month low of $68.68 and a 12-month high of $166.95. The business's 50 day simple moving average is $142.55 and its 200-day simple moving average is $129.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.
Insiders Place Their Bets
In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction that occurred 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 owns 187,202 shares in the company, valued at $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on MTZ. 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 report on Wednesday, October 23rd. Citigroup upped their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Stifel Nicolaus increased their target price on shares of MasTec from $155.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird increased their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $158.57.
Get Our Latest Analysis on MTZ
MasTec Company Profile
(
Free Report)
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.
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