Hillsdale Investment Management Inc. Sells 3,520 Shares of MasTec, Inc. $MTZ

Hillsdale Investment Management Inc. lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 16.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,700 shares of the construction company’s stock after selling 3,520 shares during the period. Hillsdale Investment Management Inc.’s holdings in MasTec were worth $3,767,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MTZ. Salomon & Ludwin LLC boosted its position in MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Caldwell Trust Co purchased a new stake in shares of MasTec during the 2nd quarter valued at $29,000. Parkside Financial Bank & Trust raised its stake in shares of 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 purchasing an additional 137 shares during the period. Princeton Global Asset Management LLC purchased a new position in shares of MasTec in the 3rd quarter worth about $43,000. Finally, Root Financial Partners LLC bought a new position in MasTec during the third quarter valued at about $49,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on MTZ shares. Citigroup lifted their price objective on shares of MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Truist Financial raised their price target on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. KeyCorp reissued an “overweight” rating and set a $264.00 price objective on shares of MasTec in a report on Wednesday, January 7th. Finally, Robert W. Baird raised their target price on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Stock Up 2.9%

MTZ opened at $283.58 on Monday. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $284.68. The company has a market cap of $22.37 billion, a PE ratio of 67.36 and a beta of 1.94. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $239.09 and a 200 day moving average of $213.11.

MasTec Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.