Lecap Asset Management Ltd. Boosts Stock Position in MasTec, Inc. (NYSE:MTZ)

Lecap Asset Management Ltd. raised its holdings in MasTec, Inc. (NYSE:MTZ) by 126.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,546 shares of the construction company’s stock after purchasing an additional 9,228 shares during the quarter. Lecap Asset Management Ltd.’s holdings in MasTec were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MTZ. Creative Planning bought a new stake in MasTec in the second quarter worth about $284,000. SG Americas Securities LLC raised its holdings in shares of MasTec by 99.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,523 shares of the construction company’s stock worth $926,000 after purchasing an additional 3,744 shares during the period. Handelsbanken Fonder AB lifted its stake in MasTec by 19.4% in the third quarter. Handelsbanken Fonder AB now owns 16,000 shares of the construction company’s stock valued at $1,970,000 after purchasing an additional 2,600 shares during the last quarter. GAMMA Investing LLC grew its holdings in MasTec by 39.9% during the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after purchasing an additional 146 shares during the period. Finally, Daymark Wealth Partners LLC increased its position in MasTec by 17.7% in the third quarter. Daymark Wealth Partners LLC now owns 4,246 shares of the construction company’s stock worth $523,000 after buying an additional 640 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MTZ. Stifel Nicolaus lifted their price objective on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Truist Financial boosted their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Guggenheim started coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. UBS Group boosted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, KeyCorp raised their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $158.57.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were 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 of the company’s stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

MasTec stock opened at $144.98 on Friday. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 129.45 and a beta of 1.73. MasTec, Inc. has a 52-week low of $67.52 and a 52-week high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $142.86 and its 200 day moving average is $128.36.

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.