SG Americas Securities LLC Decreases Stake in MasTec, Inc. $MTZ

SG Americas Securities LLC lessened its stake in shares of MasTec, Inc. (NYSE:MTZ) by 87.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,734 shares of the construction company’s stock after selling 39,994 shares during the quarter. SG Americas Securities LLC’s holdings in MasTec were worth $977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinnbrook Capital Management LP purchased a new position in shares of MasTec in the second quarter worth $10,523,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in MasTec by 7.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,752 shares of the construction company’s stock worth $2,685,000 after acquiring an additional 1,036 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of MasTec in the second quarter valued at about $228,000. Olympiad Research LP bought a new position in shares of MasTec during the second quarter valued at about $259,000. Finally, Smithfield Trust Co raised its stake in shares of MasTec by 713.3% during the second quarter. Smithfield Trust Co now owns 610 shares of the construction company’s stock valued at $104,000 after acquiring an additional 535 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Buying and Selling at MasTec

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 directly owned 9,757 shares in the company, valued at $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 available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $190.39, for a total transaction of $571,170.00. Following the sale, the director directly owned 35,277 shares in the company, valued at $6,716,388.03. The trade was a 7.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,929 shares of company stock valued at $3,394,013. 21.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Baird R W raised MasTec from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. DA Davidson set a $210.00 price objective on MasTec and gave the stock a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Finally, The Goldman Sachs Group lifted their price target on shares of MasTec from $195.00 to $227.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Two 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 data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average price target of $229.44.

MasTec Stock Up 0.7%

Shares of NYSE:MTZ opened at $193.20 on Friday. The firm has a market capitalization of $15.24 billion, a P/E ratio of 57.16 and a beta of 1.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The stock has a 50 day moving average price of $203.79 and a 200-day moving average price of $182.13. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $224.03.

About MasTec

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.