Profit Investment Management LLC Sells 8,730 Shares of MasTec, Inc. $MTZ

Profit Investment Management LLC decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 51.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,330 shares of the construction company’s stock after selling 8,730 shares during the quarter. MasTec makes up 2.2% of Profit Investment Management LLC’s holdings, making the stock its 14th biggest position. Profit Investment Management LLC’s holdings in MasTec were worth $1,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CHICAGO TRUST Co NA bought a new stake in shares of MasTec during the 3rd quarter worth about $321,000. Wedge Capital Management L L P NC lifted its position in MasTec by 9.1% during the third quarter. Wedge Capital Management L L P NC now owns 42,903 shares of the construction company’s stock worth $9,130,000 after acquiring an additional 3,591 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of MasTec during the third quarter worth approximately $43,000. Whalen Wealth Management Inc. bought a new stake in shares of MasTec during the third quarter worth approximately $532,000. Finally, Sheets Smith Investment Management acquired a new position in shares of MasTec in the third quarter valued at approximately $854,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $210.39, for a total transaction of $420,780.00. Following the sale, the director owned 33,277 shares in the company, valued at $7,001,148.03. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the completion of the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 21.30% of the stock is currently owned by corporate insiders.

MasTec Trading Up 2.1%

MTZ opened at $218.41 on Monday. The company has a market cap of $17.23 billion, a P/E ratio of 51.88 and a beta of 1.94. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $207.65 and its 200-day moving average is $191.04. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $233.14.

Analyst Ratings Changes

Several analysts recently weighed in on MTZ shares. Robert W. Baird lifted their price target on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 15th. UBS Group boosted their target price on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Guggenheim restated a “neutral” rating and issued a $215.00 price target on shares of MasTec in a research note on Wednesday, October 15th. Finally, Zacks Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.06.

MasTec Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.