Point72 Asset Management L.P. Increases Stock Position in MasTec, Inc. (NYSE:MTZ)

Point72 Asset Management L.P. grew its stake in MasTec, Inc. (NYSE:MTZ) by 57.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,389 shares of the construction company’s stock after buying an additional 279,778 shares during the period. Point72 Asset Management L.P.’s holdings in MasTec were worth $94,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Hobbs Group Advisors LLC bought a new stake in shares of MasTec during the 2nd quarter worth $27,000. GAMMA Investing LLC lifted its stake in MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec in the 2nd quarter worth about $40,000. UMB Bank n.a. increased its position in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of MasTec during the 3rd quarter valued at about $57,000. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 0.9 %

NYSE MTZ opened at $143.37 on Wednesday. The stock’s 50 day moving average is $132.25 and its 200 day moving average is $116.98. 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 firm has a market capitalization of $11.36 billion, a PE ratio of 128.01 and a beta of 1.72. MasTec, Inc. has a twelve month low of $60.96 and a twelve month high of $150.12.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly 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 legal filing with the SEC, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,823 shares of company stock valued at $7,493,301 in the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MTZ has been the subject of a number of research reports. Citigroup upped their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen upped their price target on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, KeyCorp lifted their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

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.