MasTec, Inc. (NYSE:MTZ) Stake Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in shares of MasTec, Inc. (NYSE:MTZ) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,209,126 shares of the construction company’s stock after selling 170,871 shares during the period. Dimensional Fund Advisors LP owned 1.52% of MasTec worth $129,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of MasTec during the 2nd quarter worth about $27,000. Quarry LP bought a new position in shares of MasTec in the 4th quarter valued at approximately $37,000. GAMMA Investing LLC raised its stake in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec in the 2nd quarter valued at approximately $40,000. Finally, Bessemer Group Inc. grew its holdings in MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after buying an additional 598 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. B. Riley raised their target price on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus lifted their price objective on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, August 5th. DA Davidson lifted their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Truist Financial reissued a “hold” rating and set a $112.00 price objective (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average price target of $117.50.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was 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 owns 48,173 shares in the company, valued at $5,600,592.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 21.30% of the stock is currently owned by corporate insiders.

MasTec Trading Up 1.3 %

Shares of MTZ opened at $126.14 on Monday. The stock has a fifty day moving average price of $108.63 and a two-hundred day moving average price of $102.58. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $127.97. The company has a market cap of $10.02 billion, a price-to-earnings ratio of -901.00 and a beta of 1.70.

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

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.