MasTec, Inc. (NYSE:MTZ) Stock Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 24.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,681 shares of the construction company’s stock after selling 54,636 shares during the period. Principal Financial Group Inc.’s holdings in MasTec were worth $20,642,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after buying an additional 895,227 shares during the period. State Street Corp boosted its holdings in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares during the period. Geode Capital Management LLC raised its holdings in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,823 shares of company stock valued at $4,619,121. Corporate insiders own 21.30% of the company’s stock.

MasTec Price Performance

MTZ opened at $138.42 on Thursday. The firm has a market capitalization of $10.97 billion, a P/E ratio of 123.59 and a beta of 1.72. The stock has a fifty day moving average of $135.76 and a 200-day moving average of $119.84. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12-month low of $60.96 and a 12-month high of $150.12.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTZ shares. JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Stifel Nicolaus raised their price objective on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Craig Hallum boosted their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, TD Cowen increased 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. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.23.

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.