Robert E. Apple Sells 10,000 Shares of MasTec, Inc. (NYSE:MTZ) Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was 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 in the company, valued at $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

MasTec Price Performance

Shares of MTZ traded down $0.49 during mid-day trading on Friday, reaching $144.06. 557,516 shares of the company’s stock were exchanged, compared to its average volume of 857,561. MasTec, Inc. has a 52-week low of $57.38 and a 52-week high of $150.12. The company 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 50-day simple moving average of $131.17 and a two-hundred day simple moving average of $116.08. 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

A number of research firms recently weighed in on MTZ. Robert W. Baird increased their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. UBS Group upped their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. KeyCorp upped their price objective on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen raised their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and boosted their target price for the company from $133.00 to $173.00 in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

Institutional Trading of MasTec

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in shares of MasTec by 5.7% in the 3rd quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock valued at $1,343,000 after acquiring an additional 585 shares during the period. Blankinship & Foster LLC purchased a new stake in shares of MasTec in the third quarter worth about $246,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the third quarter valued at about $25,000. Sanctuary Advisors LLC purchased a new stake in shares of MasTec during the 3rd quarter valued at about $500,000. Finally, Virtu Financial LLC acquired a new position in MasTec during the 3rd quarter worth approximately $254,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.