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

MasTec, Inc. (NYSE:MTZ) Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MasTec Price Performance

NYSE:MTZ traded up $1.63 during trading hours on Friday, hitting $126.14. The stock had a trading volume of 2,706,074 shares, compared to its average volume of 869,383. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of -889.36 and a beta of 1.70. MasTec, Inc. has a one year low of $44.65 and a one year high of $127.97. The company has a 50 day simple moving average of $108.26 and a two-hundred day simple moving average of $102.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in MasTec during the second quarter valued at approximately $1,032,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of MasTec during the 2nd quarter valued at $86,000. Sycomore Asset Management lifted its holdings in shares of MasTec by 59.4% during the 2nd quarter. Sycomore Asset Management now owns 20,620 shares of the construction company’s stock worth $2,240,000 after acquiring an additional 7,683 shares during the last quarter. Creative Planning purchased a new position in MasTec in the second quarter worth $284,000. Finally, Algert Global LLC increased its stake in MasTec by 255.6% in the second quarter. Algert Global LLC now owns 49,707 shares of the construction company’s stock valued at $5,318,000 after acquiring an additional 35,727 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several research reports. 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. Citigroup increased their target price on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group boosted their price target on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. 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. Finally, Truist Financial reiterated a “hold” rating and issued a $112.00 price objective (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.