D1 Capital Partners L.P. Trims Position in MasTec, Inc. (NYSE:MTZ)

D1 Capital Partners L.P. cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 10.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 664,828 shares of the construction company’s stock after selling 78,172 shares during the quarter. MasTec accounts for about 1.6% of D1 Capital Partners L.P.’s portfolio, making the stock its 21st largest holding. D1 Capital Partners L.P.’s holdings in MasTec were worth $81,840,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new position in MasTec during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC increased its holdings in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec during the 2nd quarter valued at approximately $40,000. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Trading Down 2.3 %

Shares of MTZ opened at $144.55 on Friday. MasTec, Inc. has a 52-week low of $54.06 and a 52-week high of $150.12. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $131.17 and its two-hundred day moving average is $116.08. The stock has a market cap of $11.45 billion, a PE ratio of 129.06 and a beta of 1.70.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MTZ shares. Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. 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. TD Cowen boosted their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus boosted their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, B. Riley reissued a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were 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 of the company’s stock, valued at approximately $27,426,096.54. The trade was a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock valued at $5,558,301 in the last 90 days. 21.30% of the stock is owned by insiders.

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.