Insider Selling: MasTec, Inc. (NYSE:MTZ) COO Sells 19,023 Shares of Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the transaction, the chief operating officer now owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

MasTec Price Performance

Shares of NYSE MTZ opened at $141.63 on Friday. The stock has a market cap of $11.22 billion, a P/E ratio of 126.46 and a beta of 1.70. MasTec, Inc. has a twelve month low of $47.02 and a twelve month high of $144.15. The stock has a 50 day moving average of $121.40 and a two-hundred day moving average of $111.17. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial upgraded MasTec from a “hold” rating to a “buy” rating and lifted their target price for the company from $133.00 to $173.00 in a report on Tuesday. Stifel Nicolaus boosted their price objective on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup increased their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average target price of $148.62.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new position in MasTec in the first quarter valued at $785,000. Swedbank AB acquired a new position in MasTec in the 1st quarter valued at about $5,287,000. Interval Partners LP purchased a new stake in MasTec during the 1st quarter valued at approximately $4,230,000. Boston Partners acquired a new stake in MasTec during the 1st quarter worth approximately $748,000. Finally, Texas Permanent School Fund Corp grew its stake in shares of MasTec by 8.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after purchasing an additional 4,716 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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.