Glenmede Trust Co. NA Increases Holdings in MasTec, Inc. (MTZ)

Glenmede Trust Co. NA boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 12.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,151,062 shares of the construction company’s stock after buying an additional 131,468 shares during the quarter. Glenmede Trust Co. NA’s holdings in MasTec were worth $56,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MTZ. Victory Capital Management Inc. raised its position in MasTec by 207,898.9% during the fourth quarter. Victory Capital Management Inc. now owns 740,476 shares of the construction company’s stock worth $36,246,000 after acquiring an additional 740,120 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of MasTec by 254.4% in the fourth quarter. Renaissance Technologies LLC now owns 661,000 shares of the construction company’s stock valued at $32,356,000 after buying an additional 474,500 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of MasTec by 15.3% in 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. 1060 Capital LLC raised its position in shares of MasTec by 73.0% in 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. Finally, Wells Fargo & Company MN raised its position in shares of MasTec by 47.3% in 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. Institutional investors own 78.96% of the company’s stock.

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In related news, EVP Cardenas Alberto De sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $49.55, for a total transaction of $743,250.00. Following the completion of the transaction, the executive vice president now owns 110,502 shares of the company’s stock, valued at $5,475,374.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $50.16, for a total transaction of $1,254,000.00. The disclosure for this sale can be found here. Insiders have sold 94,607 shares of company stock valued at $4,887,214 in the last ninety days. 20.30% of the stock is currently owned by company insiders.

MasTec, Inc. (NYSE MTZ) opened at $49.90 on Friday. MasTec, Inc. has a 52-week low of $36.40 and a 52-week high of $55.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.84 and a current ratio of 1.92. The company has a market cap of $4,079.13, a P/E ratio of 17.97, a P/E/G ratio of 1.05 and a beta of 1.48.

A number of research firms have recently weighed in on MTZ. Barclays began coverage on shares of MasTec in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective for the company. Citigroup boosted their price objective on shares of MasTec from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Robert W. Baird lowered shares of MasTec from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Thursday, March 1st. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, DA Davidson boosted their price objective on shares of MasTec to $65.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. MasTec has a consensus rating of “Buy” and an average target price of $61.01.

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MasTec Company Profile

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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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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