Oak Thistle LLC Sells 15,176 Shares of MasTec, Inc. $MTZ

Oak Thistle LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 91.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,337 shares of the construction company’s stock after selling 15,176 shares during the quarter. Oak Thistle LLC’s holdings in MasTec were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC raised its position in shares of MasTec by 22.5% during the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock valued at $58,000 after purchasing an additional 62 shares during the period. Parallel Advisors LLC increased its stake in MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after buying an additional 82 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in MasTec by 4.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock worth $338,000 after buying an additional 93 shares in the last quarter. ProShare Advisors LLC raised its holdings in MasTec by 3.7% during the second quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company’s stock valued at $463,000 after acquiring an additional 97 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of MasTec by 15.8% in the first quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company’s stock valued at $89,000 after acquiring an additional 104 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTZ. Stifel Nicolaus increased their target price on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Jefferies Financial Group boosted their price target on MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Barclays increased their price objective on shares of MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 15th. Finally, Robert W. Baird boosted their target price on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average price target of $232.06.

MasTec Trading Up 2.1%

MTZ stock opened at $218.41 on Friday. The firm has a fifty day moving average price of $207.65 and a 200 day moving average price of $190.80. MasTec, Inc. has a fifty-two week low of $99.70 and a fifty-two week high of $233.14. The firm has a market cap of $17.23 billion, a PE ratio of 51.88 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33.

Insiders Place Their Bets

In related news, CAO Timothy Michael Love sold 1,929 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $206.15, for a total value of $397,663.35. Following the completion of the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the completion of the transaction, the director owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. This represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.