MasTec, Inc. (NYSE:MTZ) COO Sells $2,580,089.49 in Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction on Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $26,746,507.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MasTec Trading Up 3.0 %

Shares of MTZ traded up $4.04 during mid-day trading on Tuesday, hitting $136.65. 834,452 shares of the company’s stock traded hands, compared to its average volume of 852,997. The business’s 50-day moving average price is $119.64 and its 200-day moving average price is $110.38. MasTec, Inc. has a 1 year low of $46.70 and a 1 year high of $139.39. The firm has a market capitalization of $10.83 billion, a P/E ratio of 121.70 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MTZ shares. Robert W. Baird raised their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday. KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. DA Davidson lifted their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Craig Hallum increased their target price on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Hedge Funds Weigh In On MasTec

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of MasTec by 156.6% during the first quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company’s stock valued at $1,805,000 after acquiring an additional 11,816 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of MasTec during the first quarter valued at approximately $463,000. Jennison Associates LLC purchased a new stake in MasTec during the 1st quarter valued at $231,000. Texas Permanent School Fund Corp increased its holdings in shares of MasTec by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock worth $4,924,000 after purchasing an additional 817 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP purchased a new position in shares of MasTec in the first quarter worth $843,000. Institutional investors own 78.10% of the company’s stock.

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.