Rhumbline Advisers Reduces Stake in MasTec, Inc. $MTZ

Rhumbline Advisers decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 168,256 shares of the construction company’s stock after selling 2,546 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of MasTec worth $35,807,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MTZ. Krilogy Financial LLC acquired a new stake in MasTec during the third quarter worth approximately $574,000. Advisors Asset Management Inc. grew its position in shares of MasTec by 5.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 42,602 shares of the construction company’s stock valued at $9,066,000 after buying an additional 2,334 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in MasTec by 9.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,884 shares of the construction company’s stock worth $614,000 after acquiring an additional 245 shares in the last quarter. MQS Management LLC lifted its position in MasTec by 60.1% in the third quarter. MQS Management LLC now owns 2,890 shares of the construction company’s stock valued at $615,000 after acquiring an additional 1,085 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in MasTec in the third quarter valued at $1,803,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MTZ. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Mizuho set a $254.00 price target on MasTec in a research report on Monday, November 3rd. Robert W. Baird increased their price objective on MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Truist Financial lifted their target price on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Barclays increased their price target on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $238.16.

MasTec Trading Up 1.7%

NYSE:MTZ opened at $269.88 on Friday. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $276.79. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The stock’s 50 day simple moving average is $234.33 and its 200-day simple moving average is $209.74. The firm has a market cap of $21.29 billion, a P/E ratio of 64.11 and a beta of 1.94.

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.