MasTec, Inc. (NYSE:MTZ – Get Free Report) CAO Timothy Love sold 366 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $198.52, for a total value of $72,658.32. Following the transaction, the chief accounting officer owned 9,926 shares in the company, valued at $1,970,509.52. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
MasTec Stock Performance
MasTec stock traded down $30.14 during trading hours on Wednesday, hitting $167.96. The stock had a trading volume of 3,262,846 shares, compared to its average volume of 1,239,897. The company has a 50-day moving average of $213.02 and a two-hundred day moving average of $300.11. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 0.95. The company has a market cap of $13.49 billion, a PE ratio of 27.44 and a beta of 1.91. MasTec, Inc. has a fifty-two week low of $164.21 and a fifty-two week high of $441.43.
MasTec (NYSE:MTZ – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.01. MasTec had a return on equity of 17.89% and a net margin of 2.80%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same quarter last year, the firm earned $2.48 EPS. MasTec’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, equities research analysts anticipate that MasTec, Inc. will post 8.83 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of MasTec in the 2nd quarter valued at $3,178,069,000. Hill City Capital LP bought a new stake in shares of MasTec in the 2nd quarter worth about $896,609,300. Bank of America Corp DE acquired a new stake in shares of MasTec during the 2nd quarter worth about $555,825,000. First Trust Advisors LP increased its position in shares of MasTec by 7.6% during the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company’s stock worth $454,163,000 after purchasing an additional 100,151 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in MasTec during the 2nd quarter valued at about $280,544,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. TD Cowen decreased their price target on shares of MasTec from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp dropped their price objective on shares of MasTec from $371.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Guggenheim increased their price objective on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Piper Sandler reduced their price objective on shares of MasTec from $321.00 to $313.00 and set a “neutral” rating for the company in a report on Monday, September 28th. Finally, Cantor Fitzgerald decreased their target price on shares of MasTec from $348.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $347.80.
Get Our Latest Stock Analysis on MasTec
MasTec Company Profile
MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.
MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.
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