Profit Investment Management LLC Has $1.77 Million Stock Holdings in MasTec, Inc. $MTZ

Profit Investment Management LLC reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 51.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,330 shares of the construction company’s stock after selling 8,730 shares during the period. MasTec comprises approximately 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 at the end of the most recent reporting period.

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

Analyst Ratings Changes

MTZ has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Mizuho set a $254.00 price target on shares of MasTec in a report on Monday, November 3rd. Citigroup boosted their price target on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Roth Capital upped their price objective on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, KeyCorp lifted their target price on shares of MasTec from $236.00 to $246.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $232.06.

Insider Activity

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the transaction, the chief accounting officer owned 9,757 shares in the company, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the completion of the sale, the director directly owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $218.41 on Monday. 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 firm has a fifty day simple moving average of $207.65 and a two-hundred day simple moving average of $191.04. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $233.14. The firm has a market capitalization of $17.23 billion, a PE ratio of 51.88 and a beta of 1.94.

About MasTec

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.