MasTec, Inc. (NYSE:MTZ) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 29.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 373,090 shares of the construction company's stock after selling 158,303 shares during the period. Vontobel Holding Ltd. owned 0.47% of MasTec worth $50,792,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Asset Management One Co. Ltd. grew its position in shares of MasTec by 8.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 40,981 shares of the construction company's stock worth $5,562,000 after acquiring an additional 3,281 shares during the last quarter. Legato Capital Management LLC grew its position in shares of MasTec by 14.0% during the fourth quarter. Legato Capital Management LLC now owns 17,524 shares of the construction company's stock worth $2,386,000 after acquiring an additional 2,155 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of MasTec during the fourth quarter worth approximately $1,301,000. BayBridge Capital Group LLC purchased a new position in shares of MasTec during the fourth quarter worth approximately $423,000. Finally, Lecap Asset Management Ltd. grew its position in shares of MasTec by 126.1% during the fourth quarter. Lecap Asset Management Ltd. now owns 16,546 shares of the construction company's stock worth $2,253,000 after acquiring an additional 9,228 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company's stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was 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 $28,080,300. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. TD Cowen lifted their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 4th. UBS Group lifted their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. KeyCorp lifted their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, January 8th. Finally, Guggenheim started coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.57.

MasTec Price Performance

MasTec stock traded down $0.21 during midday trading on Tuesday, reaching $135.57. The company's stock had a trading volume of 580,481 shares, compared to its average volume of 967,703. MasTec, Inc. has a fifty-two week low of $68.68 and a fifty-two week high of $166.95. 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 stock's 50 day simple moving average is $142.58 and its 200 day simple moving average is $130.22. The firm has a market capitalization of $10.74 billion, a PE ratio of 121.04 and a beta of 1.73.

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.