Makena Capital Management LLC Buys 25,532 Shares of MasTec, Inc. (NYSE:MTZ)

Makena Capital Management LLC boosted its position in MasTec, Inc. (NYSE:MTZ) by 41.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,146 shares of the construction company’s stock after purchasing an additional 25,532 shares during the period. MasTec comprises approximately 2.6% of Makena Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Makena Capital Management LLC owned 0.11% of MasTec worth $10,728,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MTZ. CIBC Asset Management Inc lifted its position in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares during the last quarter. New York State Teachers Retirement System raised its stake in MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after acquiring an additional 100 shares during the period. Victory Capital Management Inc. lifted its holdings in MasTec by 0.8% during the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after purchasing an additional 101 shares during the last quarter. UMB Bank n.a. boosted its position in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Trading Down 1.1 %

Shares of MTZ opened at $140.84 on Thursday. MasTec, Inc. has a 1-year low of $54.06 and a 1-year high of $147.23. The company has a market capitalization of $11.16 billion, a P/E ratio of 125.75 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm’s 50 day simple moving average is $127.77 and its 200 day simple moving average is $114.56.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MTZ. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. KeyCorp increased their target price on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. DA Davidson increased their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Robert W. Baird raised their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Two 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 has an average rating of “Moderate Buy” and a consensus target price of $148.62.

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.