ING Groep NV Has $10.78 Million Stake in MasTec, Inc. (NYSE:MTZ)

ING Groep NV increased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 227.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 79,200 shares of the construction company’s stock after acquiring an additional 55,000 shares during the period. ING Groep NV owned 0.10% of MasTec worth $10,782,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec during the 3rd quarter valued at about $25,000. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the 4th quarter valued at about $25,000. Global Retirement Partners LLC increased its holdings in shares of MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after acquiring an additional 190 shares during the last quarter. R Squared Ltd acquired a new position in shares of MasTec during the 4th quarter valued at about $44,000. Finally, True Wealth Design LLC acquired a new stake in MasTec in the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ stock opened at $132.36 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $10.49 billion, a P/E ratio of 118.18 and a beta of 1.73. MasTec, Inc. has a 12 month low of $68.89 and a 12 month high of $166.95. The stock has a 50 day moving average of $142.48 and a two-hundred day moving average of $130.49.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares in the company, valued at $28,080,300. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MTZ. B. Riley reaffirmed a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Robert W. Baird raised their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Craig Hallum raised their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.57.

MasTec 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.