Osaic Holdings Inc. Acquires 12,567 Shares of MasTec, Inc. $MTZ

Osaic Holdings Inc. raised its holdings in MasTec, Inc. (NYSE:MTZ) by 71.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,118 shares of the construction company’s stock after acquiring an additional 12,567 shares during the quarter. Osaic Holdings Inc.’s holdings in MasTec were worth $5,132,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of MasTec by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock valued at $1,017,858,000 after purchasing an additional 234,594 shares during the period. Hill City Capital LP increased its holdings in MasTec by 0.7% in the first quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company’s stock valued at $250,343,000 after purchasing an additional 15,000 shares during the last quarter. Invesco Ltd. lifted its stake in MasTec by 6.1% in the second quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after buying an additional 102,072 shares during the period. Hood River Capital Management LLC boosted its holdings in MasTec by 8.9% during the second quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after buying an additional 138,269 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in MasTec by 11.3% during the second quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock worth $181,961,000 after buying an additional 108,504 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

MTZ stock opened at $225.01 on Wednesday. The stock has a 50-day moving average price of $208.46 and a two-hundred day moving average price of $191.93. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $233.14. The stock has a market cap of $17.75 billion, a PE ratio of 53.45 and a beta of 1.94. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the transaction, the director owned 33,277 shares of the company’s stock, valued at $7,001,148.03. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. This trade represents a 16.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 21.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MTZ shares. Wall Street Zen downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. KeyCorp increased their target price on shares of MasTec from $236.00 to $246.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Jefferies Financial Group lifted their price target on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Zacks Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Guggenheim reaffirmed a “neutral” rating and set a $215.00 price objective on shares of MasTec in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $232.06.

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.