Suffolk Capital Management LLC acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,116 shares of the construction company’s stock, valued at approximately $691,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in shares of MasTec by 15.3% during the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after buying an additional 404,076 shares during the last quarter. State Street Corp boosted its position in shares of MasTec by 6.8% during the second quarter. State Street Corp now owns 1,319,541 shares of the construction company’s stock valued at $59,578,000 after buying an additional 84,002 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of MasTec by 47.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock valued at $58,058,000 after buying an additional 380,880 shares during the last quarter. Rothschild Asset Management Inc. boosted its position in shares of MasTec by 18.5% during the third quarter. Rothschild Asset Management Inc. now owns 943,843 shares of the construction company’s stock valued at $43,794,000 after buying an additional 147,017 shares during the last quarter. Finally, 1060 Capital LLC boosted its position in shares of MasTec by 73.0% during the third quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock valued at $43,629,000 after buying an additional 396,847 shares during the last quarter. 72.33% of the stock is currently owned by institutional investors.
MasTec, Inc. (NYSE:MTZ) opened at $51.00 on Friday. The stock has a market capitalization of $4,187.69, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66. MasTec, Inc. has a 12-month low of $35.75 and a 12-month high of $55.53.
In other news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $55.07, for a total value of $1,376,750.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 20.30% of the stock is owned by company insiders.
Several equities research analysts recently commented on MTZ shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $69.00 price objective (up from $58.00) on shares of MasTec in a research report on Thursday, January 18th. ValuEngine cut MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Citigroup set a $54.00 target price on MasTec and gave the stock a “buy” rating in a research report on Friday, October 27th. Craig Hallum raised their target price on MasTec from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus raised their target price on MasTec from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $58.94.
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MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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