MasTec, Inc. (NYSE:MTZ) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its position in MasTec, Inc. (NYSE:MTZ) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 8,545 shares of the construction company’s stock after selling 335 shares during the quarter. D.A. Davidson & CO.’s holdings in MasTec were worth $1,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after purchasing an additional 895,227 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after buying an additional 289,090 shares during the period. Point72 Asset Management L.P. boosted its position in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after buying an additional 279,778 shares during the period. Barclays PLC grew its holdings in MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after buying an additional 209,472 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in MasTec by 205.4% in the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after acquiring an additional 190,320 shares during the period. 78.10% of the stock is currently owned by institutional investors.

Insider Transactions at MasTec

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

MasTec Trading Down 4.8 %

MasTec stock opened at $126.35 on Monday. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73. MasTec, Inc. has a 1 year low of $69.80 and a 1 year high of $166.95. The firm’s 50 day moving average price is $142.25 and its two-hundred day moving average price is $131.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MTZ shares. B. Riley reiterated a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Robert W. Baird increased their target price 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. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial upped their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.57.

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.