Profit Investment Management LLC Sells 22,329 Shares of MasTec, Inc. (NYSE:MTZ)

Profit Investment Management LLC reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 55.3% in the 3rd quarter, Holdings Channel reports. The fund owned 18,037 shares of the construction company’s stock after selling 22,329 shares during the quarter. MasTec accounts for 1.7% of Profit Investment Management LLC’s portfolio, making the stock its 19th biggest position. Profit Investment Management LLC’s holdings in MasTec were worth $2,220,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MTZ. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter valued at approximately $27,000. Quarry LP acquired a new position in MasTec in the 4th quarter worth about $37,000. GAMMA Investing LLC increased its holdings in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of MasTec in the 2nd quarter valued at about $40,000. Finally, UMB Bank n.a. grew its position in shares of MasTec by 46.3% in the 3rd 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 last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Trading Down 0.4 %

NYSE:MTZ traded down $0.48 during mid-day trading on Friday, reaching $126.30. 160,419 shares of the company’s stock traded hands, compared to its average volume of 852,950. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $130.22. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 1,408.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The company has a 50 day moving average price of $113.87 and a 200-day moving average price of $106.01.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. On average, sell-side analysts predict that MasTec, Inc. will post 2.69 earnings per share for the current year.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value 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 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the 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 directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,800 shares of company stock worth $2,978,212. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday. They issued an “overweight” rating and a $153.00 price target on the stock. Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp upped their target price on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial upped their target price on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Citigroup upped their target price on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

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.