Dynamic Technology Lab Private Ltd Invests $1.47 Million in MasTec, Inc. (NYSE:MTZ)

Dynamic Technology Lab Private Ltd purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,944 shares of the construction company's stock, valued at approximately $1,470,000.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock worth $57,000 after buying an additional 598 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of MasTec by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company's stock worth $4,059,000 after purchasing an additional 1,905 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of MasTec by 0.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 103,932 shares of the construction company's stock worth $9,692,000 after purchasing an additional 612 shares during the last quarter. Interval Partners LP purchased a new position in MasTec during the 1st quarter valued at about $4,230,000. Finally, Motley Fool Asset Management LLC bought a new position in MasTec during the 1st quarter valued at approximately $451,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Up 3.4 %

Shares of MTZ stock traded up $4.87 during mid-day trading on Tuesday, hitting $147.94. The company's stock had a trading volume of 1,235,687 shares, compared to its average volume of 859,762. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 132.09 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52-week low of $54.06 and a 52-week high of $150.12. The business has a 50-day moving average price of $129.60 and a 200 day moving average price of $115.40.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the stock in a transaction on Friday, September 20th. The shares were 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 directly owns 217,202 shares in the company, valued at $27,426,096.54. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. 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 research note on Monday, August 5th. Stifel Nicolaus increased their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Truist Financial raised MasTec from a "hold" rating to a "buy" rating and lifted their price objective for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. Finally, TD Cowen upped their target price on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $148.62.

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.