Appian Way Asset Management LP Raises Stock Position in MasTec, Inc. (NYSE:MTZ)

Appian Way Asset Management LP increased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,400 shares of the construction company’s stock after buying an additional 33,526 shares during the period. MasTec accounts for about 5.2% of Appian Way Asset Management LP’s investment portfolio, making the stock its 6th biggest holding. Appian Way Asset Management LP owned approximately 0.24% of MasTec worth $23,315,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on MTZ. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. began coverage on shares of MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective on the stock. Citigroup boosted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their target price on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their price target on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 55,823 shares of company stock valued at $7,493,301. 21.30% of the stock is currently owned by corporate insiders.

MasTec Trading Down 0.3 %

MTZ stock opened at $144.06 on Friday. MasTec, Inc. has a 52 week low of $57.38 and a 52 week high of $150.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company’s 50-day simple moving average is $131.53 and its 200 day simple moving average is $116.34. The company has a market capitalization of $11.42 billion, a PE ratio of 128.63 and a beta of 1.70.

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.