Quest Partners LLC Boosts Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Quest Partners LLC raised its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 360,900.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,220 shares of the construction company's stock after purchasing an additional 7,218 shares during the period. Quest Partners LLC's holdings in MasTec were worth $889,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock worth $57,000 after purchasing an additional 598 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of MasTec by 13.0% during the 1st quarter. Advisors Asset Management Inc. now owns 29,069 shares of the construction company's stock worth $2,711,000 after purchasing an additional 3,339 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of MasTec by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company's stock worth $4,059,000 after purchasing an additional 1,905 shares in the last quarter. Appian Way Asset Management LP bought a new position in shares of MasTec during the 1st quarter worth about $12,000,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of MasTec in the 1st quarter worth about $2,052,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTZ. The Goldman Sachs Group increased their target price on shares of MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on shares of MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Craig Hallum lifted their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, November 4th. UBS Group lifted 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. Finally, KeyCorp lifted their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $148.62.

MasTec Trading Up 2.4 %

Shares of NYSE:MTZ traded up $3.41 during midday trading on Thursday, hitting $144.23. 247,668 shares of the stock traded hands, compared to its average volume of 854,613. The stock has a market capitalization of $11.43 billion, a PE ratio of 125.75 and a beta of 1.70. The business's 50 day moving average is $127.77 and its two-hundred day moving average is $114.56. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a one year low of $54.06 and a one year high of $147.23.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 800 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 over the last 90 days. 21.30% of the stock is owned by company insiders.

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.