MasTec, Inc. (NYSE:MTZ) Director Sells $348,780.00 in Stock

MasTec, Inc. (NYSE:MTZ) Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

MasTec Trading Up 1.3 %

Shares of MTZ opened at $126.14 on Monday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $127.97. The stock has a market cap of $10.02 billion, a PE ratio of -901.00 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The business’s 50-day moving average price is $108.63 and its 200-day moving average price is $102.58.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. MasTec’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that MasTec, Inc. will post 2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently made changes to their positions in MTZ. Pacer Advisors Inc. increased its stake in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after acquiring an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in shares of MasTec during the second quarter worth about $79,494,000. Norges Bank bought a new position in shares of MasTec in the fourth quarter worth approximately $46,970,000. Point72 Asset Management L.P. raised its stake in MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after purchasing an additional 502,039 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

MTZ has been the subject of a number of research analyst reports. DA Davidson raised their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. B. Riley increased their price objective on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus boosted their target price on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup upped their price target on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.50.

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.