D.A. Davidson & CO. Decreases Holdings in MasTec, Inc. (NYSE:MTZ)

D.A. Davidson & CO. lowered its position in MasTec, Inc. (NYSE:MTZ) by 8.6% during the third quarter, HoldingsChannel.com reports. The fund owned 8,880 shares of the construction company’s stock after selling 840 shares during the quarter. D.A. Davidson & CO.’s holdings in MasTec were worth $1,093,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of MasTec in the 2nd quarter worth about $79,494,000. Hood River Capital Management LLC boosted its position in shares of MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares in the last quarter. AQR Capital Management LLC grew its stake in MasTec by 3,439.7% in the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock valued at $28,085,000 after acquiring an additional 255,088 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after acquiring an additional 190,320 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 0.3 %

Shares of MTZ opened at $144.06 on Monday. The firm has a market cap of $11.42 billion, a PE ratio of 128.63 and a beta of 1.70. 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 company’s fifty day moving average is $131.53 and its two-hundred day moving average is $116.47. MasTec, Inc. has a fifty-two week low of $57.38 and a fifty-two week high of $150.12.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’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 transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,823 shares of company stock worth $7,493,301. 21.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MTZ shares. Truist Financial raised shares of MasTec from a “hold” rating to a “buy” rating and raised their price objective for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. TD Cowen boosted their price target on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. DA Davidson increased their price objective on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup boosted their target price on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

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.