First Dallas Securities Inc. Increases Holdings in MasTec, Inc. (NYSE:MTZ)

First Dallas Securities Inc. grew its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 102.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,600 shares of the construction company’s stock after buying an additional 3,850 shares during the quarter. First Dallas Securities Inc.’s holdings in MasTec were worth $1,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. raised its position in MasTec by 123.6% in the 4th quarter. Hodges Capital Management Inc. now owns 25,159 shares of the construction company’s stock worth $3,425,000 after purchasing an additional 13,909 shares during the period. Jennison Associates LLC raised its position in MasTec by 2,079.7% in the 4th quarter. Jennison Associates LLC now owns 54,036 shares of the construction company’s stock worth $7,357,000 after purchasing an additional 51,557 shares during the period. Precision Wealth Strategies LLC purchased a new stake in MasTec in the 4th quarter worth about $590,000. Chicago Partners Investment Group LLC purchased a new stake in MasTec in the 4th quarter worth about $218,000. Finally, Caprock Group LLC raised its position in MasTec by 30.8% in the 4th quarter. Caprock Group LLC now owns 3,924 shares of the construction company’s stock worth $534,000 after purchasing an additional 925 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 2.4 %

MTZ opened at $141.65 on Tuesday. MasTec, Inc. has a fifty-two week low of $66.66 and a fifty-two week high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a fifty day moving average of $143.15 and a two-hundred day moving average of $127.93. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 126.47 and a beta of 1.73.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares in the company, valued at $28,080,300. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Guggenheim assumed coverage on shares of MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on shares of MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.57.

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.