Algert Global LLC Sells 9,070 Shares of MasTec, Inc. (NYSE:MTZ)

Algert Global LLC lessened its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 18.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,637 shares of the construction company's stock after selling 9,070 shares during the period. Algert Global LLC owned approximately 0.05% of MasTec worth $5,002,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MTZ. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec during the 2nd quarter valued at $27,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of MasTec in the 2nd quarter valued at $40,000. UMB Bank n.a. increased its stake in MasTec by 46.3% in the 3rd 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. Finally, Bessemer Group Inc. raised its holdings in MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock worth $57,000 after buying an additional 598 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 19,023 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,823 shares of company stock valued at $5,558,301 over the last ninety days. Corporate insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MTZ shares. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 4th. B. Riley reiterated a "buy" rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Craig Hallum increased their target price on MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a report on Monday, November 4th. DA Davidson raised their target price on MasTec from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Robert W. Baird upped their price target on MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research 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. Based on data from MarketBeat, MasTec presently has an average rating of "Moderate Buy" and a consensus target price of $148.62.

MasTec Stock Up 0.6 %

NYSE:MTZ traded up $0.92 during mid-day trading on Monday, reaching $143.07. The stock had a trading volume of 1,056,541 shares, compared to its average volume of 857,674. The stock has a market cap of $11.34 billion, a P/E ratio of 127.74 and a beta of 1.70. The business's 50 day moving average is $129.00 and its 200 day moving average is $115.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $147.23.

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.