MasTec, Inc. (NYSE:MTZ) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,814,483 shares of the construction company’s stock after selling 343,751 shares during the period. Dimensional Fund Advisors LP owned approximately 2.30% of MasTec worth $214,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in MasTec during the fourth quarter worth about $46,676,000. Vanguard Group Inc. grew its holdings in shares of MasTec by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock worth $480,724,000 after acquiring an additional 447,376 shares during the period. Goldman Sachs Group Inc. increased its stake in MasTec by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,285,284 shares of the construction company’s stock valued at $111,948,000 after purchasing an additional 390,531 shares in the last quarter. Invesco Ltd. raised its holdings in MasTec by 125.3% during the first quarter. Invesco Ltd. now owns 700,891 shares of the construction company’s stock worth $61,049,000 after purchasing an additional 389,752 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in MasTec by 8,494.6% during the first quarter. Alyeska Investment Group L.P. now owns 337,596 shares of the construction company’s stock worth $31,883,000 after purchasing an additional 333,668 shares during the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of MasTec stock opened at $53.30 on Friday. The company has a fifty day moving average price of $66.35 and a 200 day moving average price of $91.10. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.12. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MTZ shares. B. Riley dropped their price target on MasTec from $138.00 to $129.00 in a research report on Monday, August 7th. The Goldman Sachs Group lowered shares of MasTec from a “buy” rating to a “neutral” rating and lowered their price target for the company from $119.00 to $54.00 in a research report on Wednesday, November 8th. Credit Suisse Group lifted their price objective on MasTec from $118.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. DA Davidson boosted their price target on MasTec from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, StockNews.com started coverage on MasTec in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.46.

Insider Activity

In other MasTec news, CFO Paul Dimarco sold 1,332 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $71.35, for a total value of $95,038.20. Following the completion of the transaction, the chief financial officer now owns 16,620 shares in the company, valued at approximately $1,185,837. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Timothy Michael Love sold 1,095 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $71.46, for a total transaction of $78,248.70. Following the completion of the sale, the chief accounting officer now owns 10,525 shares of the company’s stock, valued at $752,116.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul Dimarco sold 1,332 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $71.35, for a total transaction of $95,038.20. Following the transaction, the chief financial officer now owns 16,620 shares in the company, valued at $1,185,837. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

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.