Insider Selling: MasTec, Inc. (NYSE:MTZ) COO Sells $1,500,000.00 in Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MasTec Trading Down 0.3 %

Shares of MTZ opened at $144.06 on Monday. MasTec, Inc. has a 12 month low of $57.38 and a 12 month high of $150.12. The stock’s 50-day moving average is $131.53 and its two-hundred day moving average is $116.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market cap of $11.42 billion, a PE ratio of 128.63 and a beta of 1.70.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of MasTec by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company’s stock worth $4,059,000 after purchasing an additional 1,905 shares in the last quarter. Tidal Investments LLC lifted its holdings in MasTec by 132.4% in the 1st quarter. Tidal Investments LLC now owns 7,862 shares of the construction company’s stock worth $733,000 after buying an additional 4,479 shares in the last quarter. Comerica Bank boosted its position in MasTec by 1.9% in the 1st quarter. Comerica Bank now owns 26,824 shares of the construction company’s stock valued at $2,501,000 after buying an additional 498 shares during the last quarter. Swedbank AB acquired a new stake in shares of MasTec during the first quarter valued at about $5,287,000. Finally, Cetera Advisors LLC purchased a new stake in shares of MasTec during the first quarter worth about $268,000. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on MTZ shares. Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird upped their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. DA Davidson raised their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. B. Riley reaffirmed a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group lifted their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

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.