MasTec, Inc. (NYSE:MTZ) Director Sells $331,312.71 in Stock

MasTec, Inc. (NYSE:MTZ) Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred 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 completion of the sale, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

MasTec Stock Performance

NYSE MTZ traded down $5.94 during mid-day trading on Wednesday, reaching $122.75. 738,225 shares of the stock were exchanged, compared to its average volume of 871,921. The company has a market capitalization of $9.73 billion, a P/E ratio of 109.60 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The business’s 50 day moving average is $134.26 and its 200-day moving average is $133.24. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently made changes to their positions in MTZ. Victory Capital Management Inc. increased its holdings in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after acquiring an additional 101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of MasTec during the 3rd quarter worth about $276,000. Cerity Partners LLC boosted its holdings in MasTec by 285.4% in the 3rd quarter. Cerity Partners LLC now owns 23,151 shares of the construction company’s stock worth $2,850,000 after buying an additional 17,144 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in MasTec by 43.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 65,300 shares of the construction company’s stock worth $8,038,000 after buying an additional 19,800 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays lifted their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Stifel Nicolaus cut their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. KeyCorp lifted their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Guggenheim reiterated a “buy” rating and issued a $195.00 price target on shares of MasTec in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

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.