MasTec, Inc. (NYSE:MTZ) Director Ernst N. Csiszar Sells 2,517 Shares

MasTec, Inc. (NYSE:MTZ) Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now directly owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

MasTec Trading Down 4.6 %

NYSE MTZ traded down $5.94 on Wednesday, reaching $122.75. The stock had a trading volume of 738,225 shares, compared to its average volume of 871,921. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $134.26 and a two-hundred day moving average price of $133.24. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 109.60 and a beta of 1.74.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, sell-side analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Institutional Trading of MasTec

Hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares during the period. Hood River Capital Management LLC raised its stake in shares of MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock valued at $208,444,000 after acquiring an additional 51,531 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. AQR Capital Management LLC boosted its holdings in MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock valued at $106,117,000 after purchasing an additional 91,564 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MTZ shares. Citigroup upped their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. B. Riley reaffirmed a “buy” rating and issued a $165.00 price target (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Barclays boosted their price objective on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus reduced their price target on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

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.