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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after acquiring an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $79,494,000. Hood River Capital Management LLC raised its position in shares of MasTec by 59.8% during the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after purchasing an additional 446,762 shares during the period. AQR Capital Management LLC lifted its holdings in shares of MasTec by 3,439.7% in the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after purchasing an additional 255,088 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in MasTec by 205.4% during the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after purchasing an additional 190,320 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Trading Up 0.1 %

Shares of MTZ stock opened at $142.15 on Monday. The stock has a 50-day simple moving average of $129.00 and a 200 day simple moving average of $115.13. The stock has a market capitalization of $11.26 billion, a P/E ratio of 126.92 and a beta of 1.70. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $147.23. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Activity

In other news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $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 available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares of the company’s stock, valued at $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 quarter, insiders sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MTZ. Craig Hallum raised their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. KeyCorp lifted their price objective 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 upped their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. B. Riley restated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.62.

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.