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

Bruni J V & Co. Co. cut its position in shares of MasTec, Inc. (NYSE:MTZ) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 investment portfolio, making the stock its 17th biggest holding. Bruni J V & Co. Co. owned approximately 0.29% of MasTec worth $28,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after acquiring an additional 1,356,634 shares in the last quarter. Hood River Capital Management LLC lifted its holdings 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 last quarter. D1 Capital Partners L.P. purchased a new position in MasTec during the second quarter valued at $79,494,000. Marshall Wace LLP increased its holdings in shares of MasTec by 4.3% during the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after acquiring an additional 29,631 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of MasTec by 6.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock worth $65,414,000 after purchasing an additional 31,266 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on MTZ shares. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Craig Hallum upped their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Citigroup lifted their target price on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their price target on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, TD Cowen lifted their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Performance

NYSE:MTZ opened at $138.50 on Tuesday. 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 has a 50-day simple moving average of $125.57 and a two-hundred day simple moving average of $113.75. The firm has a market capitalization of $10.97 billion, a PE ratio of 123.66 and a beta of 1.70. MasTec, Inc. has a 52-week low of $52.88 and a 52-week high of $147.23.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is 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.