Sycomore Asset Management Has $2.75 Million Stake in MasTec, Inc. (NYSE:MTZ)

Sycomore Asset Management grew its stake in MasTec, Inc. (NYSE:MTZ) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,437 shares of the construction company’s stock after purchasing an additional 1,817 shares during the period. Sycomore Asset Management’s holdings in MasTec were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in shares of MasTec in the 2nd quarter worth about $79,494,000. Marshall Wace LLP boosted its holdings in shares of MasTec by 4.3% in the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock worth $76,828,000 after buying an additional 29,631 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in MasTec by 6.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after acquiring an additional 31,266 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Down 1.7 %

Shares of NYSE:MTZ traded down $2.31 on Thursday, hitting $137.01. 111,388 shares of the company traded hands, compared to its average volume of 855,028. MasTec, Inc. has a 52 week low of $52.19 and a 52 week high of $147.23. 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 simple moving average of $124.08 and a 200-day simple moving average of $112.91. The company has a market cap of $10.86 billion, a PE ratio of 124.39 and a beta of 1.70.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of the 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 sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction dated 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 transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock valued at $5,558,301 over the last ninety days. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MTZ. JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Citigroup increased their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird increased 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, The Goldman Sachs Group upped their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average price target 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.