Jacobs Levy Equity Management Inc. Buys 289,090 Shares of MasTec, Inc. (NYSE:MTZ)

Jacobs Levy Equity Management Inc. raised its position in shares of MasTec, Inc. (NYSE:MTZ) by 266.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 397,467 shares of the construction company’s stock after acquiring an additional 289,090 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in MasTec were worth $48,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of MasTec by 15,067.0% during 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 in the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of MasTec in the 2nd quarter worth about $79,494,000. Hood River Capital Management LLC increased its stake in shares of MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after acquiring an additional 446,762 shares in the last quarter. AQR Capital Management LLC lifted its position in MasTec by 3,439.7% during the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock valued at $28,085,000 after acquiring an additional 255,088 shares during the period. Finally, Van ECK Associates Corp boosted its stake in MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after acquiring an additional 190,320 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 0.9 %

Shares of MTZ stock opened at $143.37 on Wednesday. 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 $60.96 and a 12-month high of $150.12. The stock has a market capitalization of $11.36 billion, a P/E ratio of 128.01 and a beta of 1.72. The firm’s 50 day moving average is $132.25 and its 200 day moving average is $116.98.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,823 shares of company stock worth $7,493,301 in the last ninety days. Insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MTZ shares. Stifel Nicolaus raised their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. B. Riley reiterated a “buy” rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. TD Cowen raised their price target on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group upped their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Company Profile

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.