Tributary Capital Management LLC Has $506,000 Stock Position in MasTec, Inc. (NYSE:MTZ)

Tributary Capital Management LLC lowered its position in shares of MasTec, Inc. (NYSE:MTZ) by 28.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,720 shares of the construction company’s stock after selling 1,500 shares during the period. Tributary Capital Management LLC’s holdings in MasTec were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MTZ. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec during the 3rd quarter worth about $25,000. UMB Bank n.a. increased its position in 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 acquiring an additional 120 shares in the last quarter. True Wealth Design LLC acquired a new stake in MasTec in the 3rd quarter valued at about $57,000. GAMMA Investing LLC increased its position in 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 acquiring an additional 146 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in MasTec in the 3rd quarter valued at about $84,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $159.50 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a twelve month low of $63.97 and a twelve month high of $166.95. The firm’s 50 day moving average price is $143.34 and its two-hundred day moving average price is $126.29. The firm has a market cap of $12.64 billion, a P/E ratio of 142.41 and a beta of 1.74.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MTZ. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Guggenheim began coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. Truist Financial raised 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. The Goldman Sachs Group raised their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus price target of $157.21.

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.