MasTec, Inc. (NYSE:MTZ) Shares Sold by Algert Global LLC

Algert Global LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,637 shares of the construction company’s stock after selling 9,070 shares during the quarter. Algert Global LLC owned approximately 0.05% of MasTec worth $5,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTZ. Hobbs Group Advisors LLC purchased a new stake in shares of MasTec during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC increased its stake in MasTec by 64.9% in the 2nd 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 period. DekaBank Deutsche Girozentrale acquired a new position in shares of MasTec during the second quarter worth about $40,000. UMB Bank n.a. raised its stake in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after buying an additional 598 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Trading Up 0.1 %

Shares of MTZ stock opened at $142.15 on Monday. MasTec, Inc. has a twelve month low of $54.06 and a twelve month high of $147.23. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 126.92 and a beta of 1.70. The firm has a 50-day moving average price of $129.00 and a 200 day moving average price of $115.13. 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 Analysts Forecast Growth

MTZ has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. DA Davidson increased their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Robert W. Baird boosted their price target on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, TD Cowen upped their price target on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,823 shares of company stock worth $5,558,301. Insiders own 21.30% of the company’s stock.

MasTec 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.