Marco Investment Management LLC Boosts Stake in MasTec, Inc. $MTZ

Marco Investment Management LLC raised its position in MasTec, Inc. (NYSE:MTZ) by 28.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,605 shares of the construction company’s stock after purchasing an additional 6,955 shares during the quarter. Marco Investment Management LLC’s holdings in MasTec were worth $6,726,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new position in MasTec in the fourth quarter valued at approximately $227,000. NewEdge Advisors LLC boosted its position in MasTec by 32.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock worth $514,000 after purchasing an additional 1,083 shares during the period. Sivia Capital Partners LLC purchased a new position in MasTec in the second quarter valued at about $271,000. Farther Finance Advisors LLC boosted its position in shares of MasTec by 228.6% in the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock worth $47,000 after buying an additional 192 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of MasTec by 25.9% in the second quarter. Janney Montgomery Scott LLC now owns 5,468 shares of the construction company’s stock valued at $932,000 after buying an additional 1,125 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTZ shares. Truist Financial increased their price objective on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Citigroup upped their price objective on shares of MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their target price on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Cantor Fitzgerald began coverage on MasTec in a report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price target for the company. Finally, Guggenheim restated a “neutral” rating and set a $215.00 price objective on shares of MasTec in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $238.16.

MasTec Trading Up 1.9%

Shares of NYSE MTZ opened at $245.14 on Tuesday. The stock has a market capitalization of $19.34 billion, a P/E ratio of 58.23 and a beta of 1.94. The stock’s 50 day moving average price is $226.54 and its two-hundred day moving average price is $205.18. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $250.99.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.