MetLife Investment Management LLC Sells 204 Shares of MasTec, Inc. (NYSE:MTZ)

MetLife Investment Management LLC trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,826 shares of the construction company’s stock after selling 204 shares during the quarter. MetLife Investment Management LLC’s holdings in MasTec were worth $3,918,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. bought a new stake in MasTec in the 2nd quarter valued at $79,494,000. Hood River Capital Management LLC boosted its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after purchasing an additional 446,762 shares during the period. AQR Capital Management LLC increased its holdings in MasTec by 3,439.7% during the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after purchasing an additional 255,088 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of MasTec by 205.4% in the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after purchasing an additional 190,320 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the transaction, the chief operating officer now owns 187,202 shares in the company, valued at $28,080,300. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,823 shares of company stock worth $7,493,301. Insiders own 21.30% of the company’s stock.

MasTec Price Performance

NYSE:MTZ opened at $142.04 on Tuesday. The firm’s fifty day moving average price is $131.87 and its two-hundred day moving average price is $116.72. 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 company has a market cap of $11.26 billion, a P/E ratio of 126.82 and a beta of 1.70. MasTec, Inc. has a one year low of $60.96 and a one year high of $150.12.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Craig Hallum increased their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. Finally, KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus target price 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.