Bruni J V & Co. Co. Sells 4,286 Shares of MasTec, Inc. (NYSE:MTZ)

Bruni J V & Co. Co. decreased its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 229,068 shares of the construction company's stock after selling 4,286 shares during the quarter. MasTec comprises 3.1% of Bruni J V & Co. Co.'s holdings, making the stock its 17th largest position. Bruni J V & Co. Co. owned 0.29% of MasTec worth $28,198,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in MasTec by 15,067.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company's stock worth $146,110,000 after purchasing an additional 1,356,634 shares during the period. Hood River Capital Management LLC raised its stake in shares of MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. D1 Capital Partners L.P. acquired a new stake in MasTec in the second quarter valued at $79,494,000. Marshall Wace LLP lifted its position in shares of MasTec by 4.3% in the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company's stock worth $76,828,000 after buying an additional 29,631 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of MasTec by 6.3% during the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company's stock valued at $65,414,000 after acquiring an additional 31,266 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analysts Set New Price Targets

MTZ has been the topic of several recent research reports. Stifel Nicolaus lifted their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Citigroup raised their price target on MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. started coverage on MasTec in a research report on Monday, October 7th. They set an "overweight" rating and a $153.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $148.62.

MasTec Stock Up 2.8 %

MasTec stock traded up $3.91 during trading on Tuesday, reaching $142.39. The stock had a trading volume of 1,051,768 shares, compared to its average volume of 858,667. The business has a 50 day moving average price of $127.11 and a 200 day moving average price of $114.37. MasTec, Inc. has a 52-week low of $52.88 and a 52-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. The stock has a market cap of $11.28 billion, a PE ratio of 127.13 and a beta of 1.70.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares of the company's stock, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock valued at $5,558,301 in the last ninety days. 21.30% of the stock is currently owned by company insiders.

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.