Exchange Traded Concepts LLC Grows Position in MasTec, Inc. (NYSE:MTZ)

Exchange Traded Concepts LLC grew its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 286.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,871 shares of the construction company's stock after purchasing an additional 13,241 shares during the period. Exchange Traded Concepts LLC's holdings in MasTec were worth $2,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock worth $278,312,000 after buying an additional 895,227 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company's stock worth $48,928,000 after acquiring an additional 289,090 shares in the last quarter. Point72 Asset Management L.P. increased its stake in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after acquiring an additional 279,778 shares during the last quarter. AQR Capital Management LLC raised its position in MasTec by 3,439.7% during the second quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company's stock valued at $28,085,000 after purchasing an additional 255,088 shares in the last quarter. Finally, Barclays PLC raised its position in MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after purchasing an additional 209,472 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted 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. The Goldman Sachs Group lifted their target price on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. UBS Group increased their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Finally, Guggenheim began coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $157.21.

MasTec Trading Down 0.4 %

Shares of MTZ traded down $0.71 during trading hours on Friday, hitting $159.50. 602,496 shares of the stock were exchanged, compared to its average volume of 654,277. The firm has a market capitalization of $12.64 billion, a P/E ratio of 142.41 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a fifty-two week low of $63.97 and a fifty-two week high of $166.95. The business has a 50-day moving average of $143.34 and a 200-day moving average of $126.45.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,023 shares of company stock worth $4,515,089 in the last 90 days. Corporate 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.