Paloma Partners Management Co Buys New Position in MasTec, Inc. (MTZ)

Paloma Partners Management Co bought a new stake in MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,722 shares of the construction company’s stock, valued at approximately $427,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new position in MasTec in the fourth quarter valued at $230,000. Two Sigma Investments LP increased its stake in MasTec by 344.7% in the fourth quarter. Two Sigma Investments LP now owns 174,341 shares of the construction company’s stock valued at $8,534,000 after purchasing an additional 135,141 shares during the last quarter. Ellington Management Group LLC acquired a new position in MasTec in the fourth quarter valued at $641,000. Goldman Sachs Group Inc. increased its stake in MasTec by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 172,174 shares of the construction company’s stock valued at $8,428,000 after purchasing an additional 33,258 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in MasTec in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.

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In other news, Director Julia L. Johnson sold 29,607 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $51.11, for a total value of $1,513,213.77. Following the completion of the sale, the director now owns 72,921 shares of the company’s stock, valued at $3,726,992.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cardenas Alberto De sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $49.55, for a total value of $743,250.00. Following the completion of the sale, the executive vice president now directly owns 110,502 shares of the company’s stock, valued at approximately $5,475,374.10. The disclosure for this sale can be found here. Insiders have sold 69,607 shares of company stock valued at $3,633,214 over the last 90 days. 20.30% of the stock is currently owned by insiders.

Shares of MasTec stock opened at $45.20 on Friday. The company has a market capitalization of $3,743.69, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.84 and a current ratio of 1.92. MasTec, Inc. has a 12 month low of $36.40 and a 12 month high of $55.53.

Several research firms recently commented on MTZ. Barclays began coverage on MasTec in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price for the company. Deutsche Bank upgraded MasTec to a “buy” rating and upped their target price for the company from $43.00 to $48.00 in a research note on Thursday. Citigroup upped their price target on MasTec from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Robert W. Baird lowered MasTec from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Thursday, March 1st. Finally, DA Davidson upped their price target on MasTec to $65.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. MasTec has a consensus rating of “Buy” and an average price target of $60.87.

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MasTec Company Profile

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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