Van ECK Associates Corp Purchases 190,320 Shares of MasTec, Inc. (NYSE:MTZ)

Van ECK Associates Corp raised its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 205.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 282,970 shares of the construction company's stock after acquiring an additional 190,320 shares during the period. Van ECK Associates Corp owned approximately 0.36% of MasTec worth $34,613,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System grew its position in shares of 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 purchasing an additional 100 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in MasTec by 105.9% in the third quarter. Pallas Capital Advisors LLC now owns 7,175 shares of the construction company's stock valued at $879,000 after acquiring an additional 3,691 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in shares of MasTec during the 3rd quarter worth about $877,000. Custom Index Systems LLC purchased a new stake in MasTec during the third quarter worth approximately $458,000. Finally, State of Alaska Department of Revenue increased its holdings in MasTec by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company's stock valued at $863,000 after purchasing an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock worth $5,558,301 over the last 90 days. Insiders own 21.30% of the company's stock.

MasTec Stock Up 3.0 %

Shares of NYSE MTZ traded up $4.04 during mid-day trading on Tuesday, reaching $136.65. 834,452 shares of the company traded hands, compared to its average volume of 852,997. The company's fifty day moving average is $120.16 and its two-hundred day moving average is $110.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a fifty-two week low of $46.70 and a fifty-two week high of $139.39. The stock has a market cap of $10.83 billion, a PE ratio of 122.01 and a beta of 1.70.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MTZ. UBS Group raised their target price on MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price objective on shares of MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. B. Riley reiterated a "buy" rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday. Citigroup increased their price objective on MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They issued an "overweight" rating and a $153.00 price target for the company. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.62.

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.