Robert E. Apple Sells 10,000 Shares of MasTec, Inc. (NYSE:MTZ) Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

MasTec Price Performance

Shares of MTZ stock opened at $144.06 on Friday. The stock has a 50 day moving average price of $131.53 and a 200 day moving average price of $116.34. MasTec, Inc. has a 52-week low of $57.38 and a 52-week high of $150.12. 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 firm has a market capitalization of $11.41 billion, a P/E ratio of 128.63 and a beta of 1.70.

Analysts Set New Price Targets

MTZ has been the subject of a number of research reports. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Citigroup boosted their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. DA Davidson increased their price target on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, B. Riley reissued a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently made changes to their positions in MTZ. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the 3rd quarter worth about $25,000. Hobbs Group Advisors LLC purchased a new position in shares of MasTec during the second quarter worth approximately $27,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of MasTec in the second quarter valued at approximately $40,000. Finally, UMB Bank n.a. grew its stake in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

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.