MasTec, Inc. (NYSE:MTZ) COO Sells $1,500,000.00 in Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at $28,080,300. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

MasTec Stock Down 0.3 %

NYSE:MTZ opened at $144.06 on Friday. The company’s 50 day moving average is $131.53 and its two-hundred day moving average is $116.34. The company has a market cap of $11.41 billion, a PE ratio of 128.63 and a beta of 1.70. MasTec, Inc. has a twelve month low of $57.38 and a twelve month high of $150.12. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTZ. Citigroup boosted their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. UBS Group upped their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Craig Hallum boosted 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. Finally, Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and raised their price target for the company from $133.00 to $173.00 in a report on Tuesday, November 5th. Two 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Hedge Funds Weigh In On MasTec

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in MasTec by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,518 shares of the construction company’s stock worth $4,059,000 after buying an additional 1,905 shares during the period. Tidal Investments LLC increased its holdings in shares of MasTec by 132.4% during the 1st quarter. Tidal Investments LLC now owns 7,862 shares of the construction company’s stock valued at $733,000 after purchasing an additional 4,479 shares in the last quarter. Comerica Bank lifted its stake in shares of MasTec by 1.9% in the 1st quarter. Comerica Bank now owns 26,824 shares of the construction company’s stock valued at $2,501,000 after purchasing an additional 498 shares during the period. Swedbank AB acquired a new position in shares of MasTec in the 1st quarter valued at $5,287,000. Finally, Cetera Advisors LLC purchased a new stake in MasTec during the first quarter worth $268,000. 78.10% of the stock is owned by institutional investors and hedge funds.

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.