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

Vontobel Holding Ltd. reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 29.8% during the 4th quarter, Holdings Channel reports. The firm owned 373,090 shares of the construction company’s stock after selling 158,303 shares during the quarter. Vontobel Holding Ltd.’s holdings in MasTec were worth $50,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Creative Planning purchased a new stake in MasTec in the 2nd quarter worth $284,000. Exchange Traded Concepts LLC raised its holdings in shares of MasTec by 42.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,630 shares of the construction company’s stock valued at $570,000 after acquiring an additional 1,389 shares during the last quarter. nVerses Capital LLC lifted its position in shares of MasTec by 30.0% in the third quarter. nVerses Capital LLC now owns 2,600 shares of the construction company’s stock valued at $320,000 after acquiring an additional 600 shares in the last quarter. Claro Advisors LLC acquired a new stake in shares of MasTec in the third quarter worth approximately $161,000. Finally, Net Worth Advisory Group purchased a new stake in shares of MasTec during the third quarter worth approximately $416,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. B. Riley restated a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. UBS Group raised their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Citigroup raised their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Guggenheim assumed coverage on MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.57.

MasTec Price Performance

NYSE:MTZ opened at $136.85 on Friday. MasTec, Inc. has a 52 week low of $68.68 and a 52 week high of $166.95. The stock’s fifty day moving average is $142.76 and its two-hundred day moving average is $129.46. The company has a market capitalization of $10.84 billion, a P/E ratio of 122.18 and a beta of 1.73. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction 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 completion of the sale, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

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.