Jennison Associates LLC Grows Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Jennison Associates LLC lifted its position in MasTec, Inc. (NYSE:MTZ) by 2,079.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,036 shares of the construction company’s stock after purchasing an additional 51,557 shares during the quarter. Jennison Associates LLC owned 0.07% of MasTec worth $7,357,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Creative Planning purchased a new stake in MasTec in the second quarter worth approximately $284,000. SG Americas Securities LLC lifted its holdings in shares of MasTec by 99.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,523 shares of the construction company’s stock worth $926,000 after acquiring an additional 3,744 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of MasTec by 19.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 16,000 shares of the construction company’s stock valued at $1,970,000 after purchasing an additional 2,600 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MasTec by 39.9% during the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after purchasing an additional 146 shares during the last quarter. Finally, Daymark Wealth Partners LLC raised its position in MasTec by 17.7% in the 3rd quarter. Daymark Wealth Partners LLC now owns 4,246 shares of the construction company’s stock worth $523,000 after purchasing an additional 640 shares during the period. 78.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MTZ has been the subject of several analyst reports. Robert W. Baird upped their price target on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. The Goldman Sachs Group raised their price target on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus increased their price objective on MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Citigroup lifted their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average target price of $158.57.

MasTec Price Performance

Shares of MTZ opened at $137.61 on Thursday. MasTec, Inc. has a fifty-two week low of $67.49 and a fifty-two week high of $166.95. The firm’s 50-day simple moving average is $142.85 and its two-hundred day simple moving average is $128.24. The stock has a market cap of $10.90 billion, a PE ratio of 122.86 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

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.