Dana Investment Advisors Inc. Sells 1,588 Shares of MasTec, Inc. (NYSE:MTZ)

Dana Investment Advisors Inc. reduced its position in MasTec, Inc. (NYSE:MTZ) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,099 shares of the construction company’s stock after selling 1,588 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.08% of MasTec worth $6,537,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in MasTec during the 2nd quarter worth about $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec during the 2nd quarter valued at about $40,000. GAMMA Investing LLC grew its stake in MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the period. Quarry LP bought a new stake in MasTec in the fourth quarter worth approximately $37,000. Finally, Blue Trust Inc. increased its holdings in MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Down 0.7 %

Shares of NYSE:MTZ opened at $122.18 on Wednesday. The business’s 50 day moving average is $110.81 and its 200 day moving average is $104.06. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $127.97. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of -872.71 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. B. Riley lifted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup lifted their price target on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Truist Financial reiterated 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. Stifel Nicolaus raised their target price on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, DA Davidson upped their price target on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.50.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction on 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 sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

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.