Hood River Capital Management LLC Buys 138,269 Shares of MasTec, Inc. $MTZ

Hood River Capital Management LLC raised its stake in shares of MasTec, Inc. (NYSE:MTZ) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,692,656 shares of the construction company’s stock after purchasing an additional 138,269 shares during the quarter. MasTec comprises about 4.0% of Hood River Capital Management LLC’s investment portfolio, making the stock its largest position. Hood River Capital Management LLC’s holdings in MasTec were worth $288,479,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after acquiring an additional 137 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in MasTec in the second quarter worth $35,000. Evelyn Partners Asset Management Ltd bought a new position in shares of MasTec during the second quarter worth $43,000. Farther Finance Advisors LLC grew its holdings in shares of MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after buying an additional 192 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of MasTec in the 2nd quarter valued at $49,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several recent analyst reports. UBS Group lifted their target price on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Truist Financial boosted their price objective on MasTec from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Jefferies Financial Group raised their target price on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Guggenheim reiterated a “neutral” rating and issued a $215.00 price target on shares of MasTec in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus target price of $229.44.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer directly owned 184,249 shares in the company, valued at approximately $36,930,869.56. The trade was a 5.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Timothy Michael Love sold 1,929 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 16,929 shares of company stock valued at $3,394,013. Corporate insiders own 21.30% of the company’s stock.

MasTec Trading Up 0.2%

NYSE:MTZ opened at $219.59 on Monday. The company has a market cap of $17.33 billion, a P/E ratio of 52.16 and a beta of 1.94. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $224.03. The business has a 50 day moving average price of $206.07 and a two-hundred day moving average price of $186.46. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

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.