MasTec (NYSE:MTZ) CAO Sells $397,663.35 in Stock

MasTec, Inc. (NYSE:MTZ) CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

MasTec Trading Up 2.1%

Shares of MTZ stock opened at $200.85 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 59.42 and a beta of 1.88. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03. The firm has a fifty day moving average price of $201.22 and a 200-day moving average price of $177.22.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, October 30th. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.17. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the business earned $1.63 earnings per share. MasTec’s quarterly revenue was up 22.0% compared to the same quarter last year. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. As a group, equities analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On MasTec

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new position in shares of MasTec in the fourth quarter worth $227,000. Bank of New York Mellon Corp increased its holdings in MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company’s stock valued at $65,440,000 after acquiring an additional 4,024 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in MasTec by 32.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 45,736 shares of the construction company’s stock valued at $5,338,000 after acquiring an additional 11,143 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in MasTec in the 1st quarter worth $334,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of MasTec by 56.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 19,426 shares of the construction company’s stock valued at $2,267,000 after purchasing an additional 7,029 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of MasTec in a research note on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. DA Davidson set a $210.00 price target on shares of MasTec and gave the stock a “buy” rating in a research report on Monday, August 4th. TD Cowen increased their price objective on shares of MasTec from $175.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Finally, KeyCorp lifted their target price on shares of MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.44.

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.