Janney Montgomery Scott LLC Purchases 3,527 Shares of MasTec, Inc. (NYSE:MTZ)

Janney Montgomery Scott LLC boosted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 82.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,824 shares of the construction company's stock after acquiring an additional 3,527 shares during the quarter. Janney Montgomery Scott LLC's holdings in MasTec were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. lifted its holdings in shares of MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after buying an additional 895,227 shares during the period. State Street Corp lifted its holdings in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after buying an additional 24,522 shares during the period. Geode Capital Management LLC lifted its holdings in shares of MasTec by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock valued at $126,370,000 after buying an additional 16,844 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after buying an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of MasTec by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock valued at $77,592,000 after buying an additional 7,469 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTZ. B. Riley reissued a "buy" rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Truist Financial raised their price target on MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Citigroup raised their price target on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Robert W. Baird raised their price objective on MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Finally, UBS Group raised their price objective on MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, MasTec presently has an average rating of "Moderate Buy" and a consensus target price of $158.57.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 187,202 shares in the company, valued at $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was 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 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 insiders.

MasTec Trading Down 0.1 %

Shares of MTZ stock traded down $0.09 during mid-day trading on Friday, hitting $144.96. 556,781 shares of the company's stock were exchanged, compared to its average volume of 1,019,363. MasTec, Inc. has a fifty-two week low of $68.54 and a fifty-two week high of $166.95. The stock has a 50-day simple moving average of $142.88 and a two-hundred day simple moving average of $128.61. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 129.43 and a beta of 1.73.

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.