Moloney Securities Asset Management LLC Takes Position in MasTec, Inc. (NYSE:MTZ)

Moloney Securities Asset Management LLC purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,320 shares of the construction company's stock, valued at approximately $1,024,000.

A number of other large investors have also modified their holdings of MTZ. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the 2nd quarter worth approximately $27,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the 2nd quarter worth about $40,000. GAMMA Investing LLC boosted its holdings in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock valued at $39,000 after acquiring an additional 144 shares during the period. UMB Bank n.a. grew its position in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock worth $60,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MTZ. TD Cowen increased their price target on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday. B. Riley reissued a "buy" rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research report on Tuesday. Truist Financial raised shares of MasTec from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $133.00 to $173.00 in a research report on Tuesday. JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They set an "overweight" rating and a $153.00 target price for the company. Finally, DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $148.62.

MasTec Stock Performance

NYSE MTZ traded up $4.09 during trading hours on Wednesday, hitting $140.63. 1,537,886 shares of the stock were exchanged, compared to its average volume of 856,182. MasTec, Inc. has a 12-month low of $46.70 and a 12-month high of $140.98. 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 50-day moving average of $120.16 and a 200 day moving average of $110.75. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 125.63 and a beta of 1.70.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares of the company's stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,823 shares of company stock worth $5,558,301 over the last 90 days. Company insiders own 21.30% of the company's stock.

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.