Great Lakes Advisors LLC Sells 53,006 Shares of MasTec, Inc. $MTZ

Great Lakes Advisors LLC cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 43.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,069 shares of the construction company’s stock after selling 53,006 shares during the period. Great Lakes Advisors LLC owned about 0.09% of MasTec worth $14,486,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MTZ. Salomon & Ludwin LLC grew its position in MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co bought a new position in MasTec in the second quarter valued at about $29,000. Parkside Financial Bank & Trust boosted its stake in shares of MasTec by 253.7% during the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after purchasing an additional 137 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of MasTec during the third quarter worth about $43,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of MasTec during the second quarter worth about $35,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTZ shares. Stifel Nicolaus raised their price objective on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. KeyCorp restated an “overweight” rating and issued a $264.00 price target on shares of MasTec in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Wall Street Zen raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Sunday, January 25th. Finally, Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $238.16.

MasTec Trading Down 0.1%

MTZ opened at $244.58 on Friday. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $250.99. The company has a fifty day moving average of $224.77 and a 200-day moving average of $203.79. The stock has a market cap of $19.30 billion, a PE ratio of 58.09 and a beta of 1.91. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. The trade was a 16.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.30% of the company’s stock.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.