First Dallas Securities Inc. Makes New Investment in MasTec, Inc. (NYSE:MTZ)

First Dallas Securities Inc. purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,750 shares of the construction company's stock, valued at approximately $462,000.

Other large investors have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in MasTec during the 2nd quarter valued at about $27,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MasTec in the 2nd quarter valued at about $40,000. UMB Bank n.a. lifted its holdings in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after buying an additional 120 shares during the period. True Wealth Design LLC acquired a new position in shares of MasTec in the 3rd quarter valued at about $57,000. Finally, GAMMA Investing LLC lifted its holdings in shares of MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company's stock valued at $63,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The sale 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 stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,823 shares of company stock worth $7,493,301 over the last ninety days. Corporate insiders own 21.30% of the company's stock.

MasTec Trading Down 0.7 %

MasTec stock traded down $0.94 during mid-day trading on Tuesday, hitting $132.86. The company's stock had a trading volume of 909,184 shares, compared to its average volume of 856,921. The firm has a market capitalization of $10.53 billion, a PE ratio of 119.46 and a beta of 1.72. MasTec, Inc. has a 1 year low of $60.96 and a 1 year high of $150.12. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock's fifty day moving average is $133.61 and its two-hundred day moving average is $117.84.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MTZ shares. Stifel Nicolaus boosted their price objective on MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, October 10th. B. Riley reaffirmed 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. Robert W. Baird upped their price target on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. JPMorgan Chase & Co. began coverage on MasTec in a report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price target for the company. Finally, TD Cowen upped their price target on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Two equities research 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $148.62.

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.