MML Investors Services LLC Purchases 4,838 Shares of MasTec, Inc. (NYSE:MTZ)

MML Investors Services LLC raised its holdings in MasTec, Inc. (NYSE:MTZ) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,803 shares of the construction company’s stock after purchasing an additional 4,838 shares during the quarter. MML Investors Services LLC’s holdings in MasTec were worth $2,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTZ. Atom Investors LP lifted its position in MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after buying an additional 55,363 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of MasTec by 8.9% during the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after purchasing an additional 4,716 shares during the last quarter. Makena Capital Management LLC grew its stake in shares of MasTec by 41.4% during the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after purchasing an additional 25,532 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MasTec in the third quarter valued at approximately $1,470,000. Finally, State Street Corp raised its position in MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MTZ. UBS Group increased their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Craig Hallum lifted their price objective on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Robert W. Baird raised their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.00.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction 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 sale, 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 SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,823 shares of company stock worth $7,493,301. Company insiders own 21.30% of the company’s stock.

MasTec Trading Up 0.3 %

NYSE MTZ opened at $137.78 on Monday. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12. 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 has a market cap of $10.92 billion, a P/E ratio of 123.02 and a beta of 1.72. The stock’s 50-day moving average is $134.53 and its 200-day moving average is $118.55.

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.