Insider Selling: MasTec, Inc. (NYSE:MTZ) COO Sells 10,000 Shares of Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 accessible through this link.

MasTec Stock Performance

Shares of MTZ traded down $0.49 during trading hours on Friday, hitting $144.06. The company had a trading volume of 557,516 shares, compared to its average volume of 857,561. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 129.06 and a beta of 1.70. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $131.17 and a 200-day moving average of $116.08. MasTec, Inc. has a 12 month low of $57.38 and a 12 month high of $150.12.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently made changes to their positions in MTZ. CIBC Asset Management Inc boosted its stake in MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after purchasing an additional 82 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after acquiring an additional 94 shares in the last quarter. New York State Teachers Retirement System increased its position in MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after acquiring an additional 100 shares during the period. Victory Capital Management Inc. raised its stake in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings 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 purchasing an additional 120 shares during the period. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

MTZ has been the subject of a number of recent analyst reports. TD Cowen increased their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus raised their price objective on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. B. Riley reiterated a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Finally, UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average price target of $148.62.

About MasTec

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.