MetLife Investment Management LLC Has $3.92 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

MetLife Investment Management LLC cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Several other hedge funds also recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new position in MasTec during the 2nd quarter valued at $27,000. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec during the 2nd quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after buying an additional 144 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares during the period. Finally, Blue Trust Inc. grew its position in MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after buying an additional 138 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,823 shares of company stock valued at $7,493,301. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. DA Davidson raised their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group lifted their price target 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. Stifel Nicolaus increased their price objective on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird upped their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Craig Hallum raised their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Price Performance

Shares of MTZ stock opened at $142.04 on Tuesday. MasTec, Inc. has a 52 week low of $60.96 and a 52 week high of $150.12. The stock has a market capitalization of $11.26 billion, a PE ratio of 126.82 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock’s fifty day moving average is $131.87 and its 200-day moving average is $116.72.

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.