Daymark Wealth Partners LLC Reduces Stock Position in MasTec, Inc. (NYSE:MTZ)

Daymark Wealth Partners LLC trimmed its position in MasTec, Inc. (NYSE:MTZ) by 9.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,606 shares of the construction company’s stock after selling 370 shares during the quarter. Daymark Wealth Partners LLC’s holdings in MasTec were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. purchased a new stake in shares of MasTec in the 2nd quarter valued at $79,494,000. Point72 Asset Management L.P. increased its stake in shares of MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after acquiring an additional 502,039 shares during the period. Hood River Capital Management LLC raised its holdings 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 worth $127,773,000 after purchasing an additional 446,762 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction 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 sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MTZ shares. Citigroup increased their price target on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. B. Riley raised their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus boosted their price target on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial reaffirmed a “hold” rating and set a $112.00 price objective (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th. Finally, DA Davidson lifted their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

MasTec Stock Up 0.1 %

Shares of NYSE MTZ opened at $122.80 on Friday. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $127.97. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The company’s 50-day simple moving average is $110.53 and its 200-day simple moving average is $103.67. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of -877.14 and a beta of 1.70.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business earned $0.81 EPS. MasTec’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts predict that MasTec, Inc. will post 2.71 EPS for the current fiscal year.

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.