Makena Capital Management LLC Boosts Stock Position in MasTec, Inc. (NYSE:MTZ)

Makena Capital Management LLC raised its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 41.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 87,146 shares of the construction company's stock after purchasing an additional 25,532 shares during the quarter. MasTec makes up approximately 2.6% of Makena Capital Management LLC's investment portfolio, making the stock its 16th largest holding. Makena Capital Management LLC owned approximately 0.11% of MasTec worth $10,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of MasTec by 4.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 33,761 shares of the construction company's stock worth $4,156,000 after acquiring an additional 1,375 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MasTec in the third quarter valued at approximately $1,174,000. Caprock Group LLC boosted its holdings in shares of MasTec by 13.4% during the 3rd quarter. Caprock Group LLC now owns 2,999 shares of the construction company's stock worth $369,000 after buying an additional 354 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of MasTec during the 3rd quarter worth approximately $412,000. Finally, Quest Partners LLC increased its stake in shares of MasTec by 360,900.0% in the 3rd quarter. Quest Partners LLC now owns 7,220 shares of the construction company's stock valued at $889,000 after acquiring an additional 7,218 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of research reports. KeyCorp raised their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. TD Cowen raised their target price on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on MasTec in a report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price target on the stock. Craig Hallum boosted their price objective on MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, Robert W. Baird increased their target price on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $148.62.

MasTec Stock Performance

Shares of MasTec stock traded up $1.24 during mid-day trading on Thursday, hitting $142.06. 984,311 shares of the stock were exchanged, compared to its average volume of 857,872. MasTec, Inc. has a 12 month low of $54.06 and a 12 month high of $147.23. The company has a 50-day simple moving average of $127.77 and a 200 day simple moving average of $114.56. The company has a market capitalization of $11.26 billion, a P/E ratio of 126.93 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares of the company's stock, valued at approximately $26,746,507.26. This represents a 8.80 % 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 link. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is owned by company insiders.

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.