Raymond James Trust N.A. Invests $276,000 in MasTec, Inc. (NYSE:MTZ)

Raymond James Trust N.A. bought a new stake in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, Holdings Channel.com reports. The fund bought 2,239 shares of the construction company’s stock, valued at approximately $276,000.

Other large investors have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new position in shares of MasTec during the 2nd quarter valued at about $27,000. GAMMA Investing LLC increased its position in MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in MasTec during the second quarter worth approximately $40,000. UMB Bank n.a. boosted its holdings in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 in the last ninety days. 21.30% of the stock is owned by insiders.

MasTec Price Performance

Shares of NYSE MTZ opened at $144.54 on Thursday. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $150.12. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $11.45 billion, a PE ratio of 129.05 and a beta of 1.70. The business has a 50 day moving average price of $130.22 and a two-hundred day moving average price of $115.68.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of research analyst reports. DA Davidson lifted their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. TD Cowen boosted their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. KeyCorp lifted their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. B. Riley reissued a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Company Profile

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.