MasTec, Inc. (NYSE:MTZ) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in MasTec, Inc. (NYSE:MTZ) by 24.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,681 shares of the construction company’s stock after selling 54,636 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of MasTec worth $20,642,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the 3rd quarter valued at $25,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of MasTec in the second quarter worth about $40,000. UMB Bank n.a. grew its stake in shares of MasTec by 46.3% in the third 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 in the last quarter. True Wealth Design LLC acquired a new position in MasTec during the 3rd quarter worth approximately $57,000. Finally, GAMMA Investing LLC boosted its holdings in MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $63,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. UBS Group boosted their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Craig Hallum lifted their target price on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, TD Cowen increased their price target on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.23.

MasTec Trading Up 0.1 %

MasTec stock opened at $138.42 on Thursday. MasTec, Inc. has a 1 year low of $60.96 and a 1 year high of $150.12. The firm’s 50-day moving average is $135.76 and its 200-day moving average is $119.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market cap of $10.97 billion, a P/E ratio of 123.59 and a beta of 1.72.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,823 shares of company stock worth $4,619,121 over the last quarter. 21.30% of the stock is owned by company insiders.

MasTec Company 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.