DMC Group LLC Decreases Stake in MasTec, Inc. (NYSE:MTZ)

DMC Group LLC lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,201 shares of the construction company’s stock after selling 79 shares during the quarter. DMC Group LLC’s holdings in MasTec were worth $436,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its position in MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after acquiring an additional 895,227 shares during the last quarter. State Street Corp boosted its holdings in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Geode Capital Management LLC grew its position in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after buying an additional 7,469 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MTZ. Craig Hallum upped their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. B. Riley restated a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. UBS Group boosted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.57.

Insider Activity

In other news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value 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. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Performance

Shares of MasTec stock opened at $139.65 on Thursday. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 124.69 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50-day moving average of $143.01 and a 200 day moving average of $126.93. MasTec, Inc. has a 12 month low of $65.67 and a 12 month high of $166.95.

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.