Robert E. Apple Sells 20,000 Shares of MasTec, Inc. (NYSE:MTZ) Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction 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 sale, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

MasTec Trading Down 0.3 %

Shares of MTZ opened at $123.63 on Thursday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $127.97. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $109.81 and its 200-day simple moving average is $103.19. The company has a market cap of $9.79 billion, a P/E ratio of -883.07 and a beta of 1.70.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, analysts expect that MasTec, Inc. will post 2.71 EPS for the current year.

Hedge Funds Weigh In On MasTec

Hedge funds have recently bought and sold shares of the business. Hobbs Group Advisors LLC bought a new stake in shares of MasTec during the second quarter worth $27,000. Quarry LP bought a new stake in MasTec during the 4th quarter valued at about $37,000. GAMMA Investing LLC boosted its position in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after buying an additional 144 shares during the period. DekaBank Deutsche Girozentrale bought a new position in MasTec in the 2nd quarter worth about $40,000. Finally, Bessemer Group Inc. increased its position in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after acquiring an additional 598 shares during the period. Institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Stifel Nicolaus boosted their target price on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial reiterated a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. B. Riley boosted their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. DA Davidson upped their price target on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup lifted their price objective on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

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.