MasTec, Inc. (NYSE:MTZ) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,762 shares of the construction company's stock after selling 3,395 shares during the quarter. Wedge Capital Management L L P NC's holdings in MasTec were worth $4,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MTZ. American Century Companies Inc. lifted its holdings in shares of MasTec by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 15,557 shares of the construction company's stock valued at $1,664,000 after buying an additional 1,777 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in MasTec in the second quarter worth $40,000. Envestnet Asset Management Inc. lifted its holdings in MasTec by 169.7% in the second quarter. Envestnet Asset Management Inc. now owns 21,703 shares of the construction company's stock valued at $2,322,000 after acquiring an additional 13,656 shares during the period. Amalgamated Bank boosted its position in shares of MasTec by 2.8% during the 2nd quarter. Amalgamated Bank now owns 37,771 shares of the construction company's stock worth $4,041,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of MasTec by 12.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,170 shares of the construction company's stock worth $553,000 after purchasing an additional 582 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on MTZ shares. Stifel Nicolaus raised their price objective on shares of MasTec from $153.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. B. Riley reiterated a "buy" rating and set a $166.00 price target (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Craig Hallum upped their price target on MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, November 4th. The Goldman Sachs Group raised their price objective on MasTec from $115.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, TD Cowen boosted their target price on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $155.07.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction that occurred 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 owns 187,202 shares of the company's stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,023 shares of company stock valued at $4,515,089. Insiders own 21.30% of the company's stock.

MasTec Stock Performance

NYSE MTZ traded down $0.01 during trading hours on Monday, reaching $155.31. The company's stock had a trading volume of 771,673 shares, compared to its average volume of 699,861. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $141.58 and a 200 day simple moving average of $124.82. MasTec, Inc. has a 52 week low of $60.96 and a 52 week high of $157.32. The stock has a market cap of $12.31 billion, a PE ratio of 138.67 and a beta of 1.74.

MasTec 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.