Makena Capital Management LLC Grows Stock Position in MasTec, Inc. (NYSE:MTZ)

Makena Capital Management LLC boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 41.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,146 shares of the construction company’s stock after acquiring an additional 25,532 shares during the quarter. MasTec accounts for about 2.6% of Makena Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Makena Capital Management LLC’s holdings in MasTec were worth $10,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MTZ. Pacer Advisors Inc. lifted its position in MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the period. D1 Capital Partners L.P. bought a new stake in MasTec during the 2nd quarter valued at $79,494,000. Marshall Wace LLP boosted its position in MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after buying an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in MasTec by 6.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock worth $65,414,000 after acquiring an additional 31,266 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Performance

Shares of MTZ stock opened at $140.84 on Thursday. The company’s fifty day moving average price is $127.77 and its 200-day moving average price is $114.56. The stock has a market cap of $11.16 billion, a PE ratio of 125.75 and a beta of 1.70. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12 month low of $54.06 and a 12 month high of $147.23.

Analysts Set New Price Targets

Several brokerages have recently commented on MTZ. TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. B. Riley reaffirmed a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Citigroup increased their price objective on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock valued at $5,558,301 in the last three months. Company insiders own 21.30% of the company’s stock.

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.