Makena Capital Management LLC Sells 29,721 Shares of MasTec, Inc. $MTZ

Makena Capital Management LLC lowered its stake in MasTec, Inc. (NYSE:MTZ) by 19.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,085 shares of the construction company’s stock after selling 29,721 shares during the period. MasTec makes up approximately 2.7% of Makena Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Makena Capital Management LLC owned 0.15% of MasTec worth $25,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in MasTec by 92.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after buying an additional 31,218 shares during the last quarter. Thrivent Financial for Lutherans increased its position in MasTec by 14.9% during the third quarter. Thrivent Financial for Lutherans now owns 16,593 shares of the construction company’s stock valued at $3,531,000 after acquiring an additional 2,158 shares during the last quarter. Bridge City Capital LLC raised its stake in shares of MasTec by 27.2% in the second quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after acquiring an additional 10,565 shares during the period. Schroder Investment Management Group purchased a new stake in shares of MasTec in the second quarter valued at $12,366,000. Finally, Marco Investment Management LLC lifted its holdings in shares of MasTec by 28.2% in the 3rd quarter. Marco Investment Management LLC now owns 31,605 shares of the construction company’s stock worth $6,726,000 after acquiring an additional 6,955 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald started coverage on MasTec in a research note on Friday, January 23rd. They set an “overweight” rating and a $274.00 target price on the stock. Robert W. Baird raised their price target on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. KeyCorp restated an “overweight” rating and set a $264.00 price objective on shares of MasTec in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Stock Up 2.9%

Shares of NYSE MTZ opened at $283.58 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 67.36 and a beta of 1.94. The stock has a 50 day moving average price of $239.09 and a 200 day moving average price of $213.11. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $284.68.

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.