Moran Wealth Management LLC Has $11 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

Moran Wealth Management LLC cut its stake in MasTec, Inc. (NYSE:MTZ) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,341 shares of the construction company’s stock after selling 2,603 shares during the period. Moran Wealth Management LLC’s holdings in MasTec were worth $10,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTZ. Pacer Advisors Inc. boosted 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 valued at $146,110,000 after purchasing an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC boosted its position in 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 acquiring an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in MasTec during the 2nd quarter worth about $79,494,000. Marshall Wace LLP grew its holdings in MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock worth $76,828,000 after acquiring an additional 29,631 shares during the period. 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 acquiring an additional 31,266 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 in the last 90 days. Insiders own 21.30% of the company’s stock.

MasTec Stock Down 1.6 %

Shares of MTZ stock traded down $2.22 on Wednesday, hitting $140.18. The stock had a trading volume of 46,451 shares, compared to its average volume of 855,058. 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 business has a 50 day moving average of $127.11 and a 200 day moving average of $114.37. MasTec, Inc. has a 12-month low of $54.06 and a 12-month high of $147.23. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 127.13 and a beta of 1.70.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several recent analyst reports. JPMorgan Chase & Co. started coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. 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 research note on Monday, November 4th. Citigroup boosted their target price on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Craig Hallum upped their price objective on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.62.

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.