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D1 Capital Partners L.P. Sells 78,172 Shares of MasTec, Inc. (NYSE:MTZ)

MasTec logo with Construction background

D1 Capital Partners L.P. reduced its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 10.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 664,828 shares of the construction company's stock after selling 78,172 shares during the quarter. MasTec makes up about 1.6% of D1 Capital Partners L.P.'s holdings, making the stock its 21st largest position. D1 Capital Partners L.P. owned about 0.84% of MasTec worth $81,840,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of MasTec by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company's stock valued at $4,059,000 after buying an additional 1,905 shares in the last quarter. Tidal Investments LLC lifted its position in shares of MasTec by 132.4% during the first quarter. Tidal Investments LLC now owns 7,862 shares of the construction company's stock worth $733,000 after acquiring an additional 4,479 shares in the last quarter. Comerica Bank boosted its holdings in shares of MasTec by 1.9% in the first quarter. Comerica Bank now owns 26,824 shares of the construction company's stock worth $2,501,000 after acquiring an additional 498 shares during the period. Swedbank AB purchased a new position in shares of MasTec in the first quarter valued at $5,287,000. Finally, Cetera Advisors LLC bought a new stake in shares of MasTec during the 1st quarter valued at $268,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the firm'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 sale, the director now owns 48,173 shares of the company's stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 800 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at $28,140,916.08. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,823 shares of company stock valued at $7,493,301 over the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Down 0.3 %

NYSE MTZ traded down $0.49 during mid-day trading on Friday, reaching $144.06. The stock had a trading volume of 557,516 shares, compared to its average volume of 857,561. The company has a fifty day moving average price of $131.17 and a 200 day moving average price of $116.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1 year low of $57.38 and a 1 year high of $150.12. The stock has a market cap of $11.42 billion, a PE ratio of 129.06 and a beta of 1.70.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their target price 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 upgraded shares of MasTec from a "hold" rating to a "buy" rating and boosted their price target for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. UBS Group increased their price objective on MasTec from $129.00 to $147.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, KeyCorp raised their price target on MasTec from $123.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $148.62.

Check Out Our Latest Stock Analysis on MasTec

About MasTec

(Free Report)

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.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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