Daiwa Securities Group Inc. Has $8.04 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Daiwa Securities Group Inc. boosted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 43.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,300 shares of the construction company's stock after acquiring an additional 19,800 shares during the period. Daiwa Securities Group Inc. owned 0.08% of MasTec worth $8,038,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. lifted its holdings in shares of MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock worth $57,000 after acquiring an additional 598 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 worth $4,059,000 after purchasing an additional 1,905 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in MasTec by 0.6% during the 1st 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 acquired a new stake in MasTec during the 1st quarter valued at approximately $4,230,000. Finally, Motley Fool Asset Management LLC acquired a new stake in MasTec during the 1st quarter valued at approximately $451,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTZ has been the subject of several analyst reports. B. Riley reiterated a "buy" rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. DA Davidson raised 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. JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They issued an "overweight" rating and a $153.00 price target on the stock. Truist Financial upgraded shares of 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 raised their target price on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and a consensus target price of $148.62.

MasTec Stock Performance

Shares of MTZ stock traded up $4.87 during trading on Tuesday, reaching $147.94. The company had a trading volume of 1,235,687 shares, compared to its average volume of 859,762. The firm's 50 day simple moving average is $129.60 and its two-hundred day simple moving average is $115.40. 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 one year low of $54.06 and a one year high of $150.12. The company has a market capitalization of $11.72 billion, a PE ratio of 132.09 and a beta of 1.70.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at approximately $28,140,916.08. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by corporate insiders.

MasTec Profile

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.