Merit Financial Group LLC Invests $415,000 in MasTec, Inc. (NYSE:MTZ)

Merit Financial Group LLC bought a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,049 shares of the construction company's stock, valued at approximately $415,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its holdings in MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock worth $281,000 after purchasing an additional 82 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in MasTec by 2.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company's stock worth $423,000 after acquiring an additional 94 shares in the last quarter. New York State Teachers Retirement System lifted its position in MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company's stock valued at $3,269,000 after acquiring an additional 100 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of MasTec by 0.8% during the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock worth $1,583,000 after purchasing an additional 101 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of 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 purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

MTZ has been the topic of a number of research reports. JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday, October 7th. They set an "overweight" rating and a $153.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. B. Riley reissued a "buy" rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Stifel Nicolaus increased their price target on MasTec from $155.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, MasTec currently has a consensus rating of "Moderate Buy" and an average price target of $157.21.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,023 shares of company stock worth $4,515,089 in the last three months. Corporate insiders own 21.30% of the company's stock.

MasTec Price Performance

Shares of MTZ traded down $0.71 on Friday, reaching $159.50. The stock had a trading volume of 602,496 shares, compared to its average volume of 862,280. MasTec, Inc. has a twelve month low of $63.97 and a twelve month high of $166.95. The firm has a market capitalization of $12.64 billion, a PE ratio of 142.41 and a beta of 1.74. The firm has a 50-day moving average of $143.34 and a 200 day moving average of $126.12. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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.