Legato Capital Management LLC Increases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Legato Capital Management LLC lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,524 shares of the construction company’s stock after purchasing an additional 2,155 shares during the quarter. Legato Capital Management LLC’s holdings in MasTec were worth $2,386,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in MasTec in the 3rd quarter valued at $25,000. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the fourth quarter worth about $25,000. R Squared Ltd purchased a new position in MasTec during the fourth quarter worth about $44,000. UMB Bank n.a. lifted its position in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the period. Finally, True Wealth Design LLC purchased a new stake in MasTec in the 3rd quarter valued at approximately $57,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have 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. Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Craig Hallum boosted their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup increased their price target on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, KeyCorp boosted their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $158.57.

MasTec Price Performance

Shares of NYSE:MTZ opened at $140.41 on Wednesday. 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 business’s fifty day moving average price is $142.87 and its two-hundred day moving average price is $129.40. The stock has a market cap of $11.13 billion, a PE ratio of 125.37 and a beta of 1.73. MasTec, Inc. has a one year low of $68.68 and a one year high of $166.95.

Insider Activity at MasTec

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

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.