Bruni J V & Co. Co. Cuts Stock Position in MasTec, Inc. (NYSE:MTZ)

Bruni J V & Co. Co. reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 229,068 shares of the construction company’s stock after selling 4,286 shares during the quarter. MasTec makes up approximately 3.1% of Bruni J V & Co. Co.’s holdings, making the stock its 17th largest holding. Bruni J V & Co. Co.’s holdings in MasTec were worth $28,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in MasTec during the 1st quarter worth about $463,000. Russell Investments Group Ltd. increased its holdings in MasTec by 139.0% in the 1st quarter. Russell Investments Group Ltd. now owns 60,406 shares of the construction company’s stock worth $5,633,000 after buying an additional 35,130 shares during the period. Bessemer Group Inc. raised its position 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 last quarter. LGT Group Foundation lifted its stake in MasTec by 5.3% during the 1st quarter. LGT Group Foundation now owns 77,729 shares of the construction company’s stock valued at $7,248,000 after acquiring an additional 3,939 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in MasTec by 13.0% during the 1st quarter. Advisors Asset Management Inc. now owns 29,069 shares of the construction company’s stock valued at $2,711,000 after acquiring an additional 3,339 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was 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 approximately $27,426,096.54. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,823 shares of company stock valued at $5,558,301. Company insiders own 21.30% of the company’s stock.

MasTec Trading Up 2.3 %

MTZ opened at $138.50 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 123.66 and a beta of 1.70. The company’s 50 day simple moving average is $125.57 and its two-hundred day simple moving average is $113.75. MasTec, Inc. has a 1-year low of $52.88 and a 1-year high of $147.23.

Analyst Ratings Changes

Several equities research analysts have commented on MTZ shares. Citigroup upped their price target on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. began coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. TD Cowen boosted their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, DA Davidson increased their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

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.