MasTec, Inc. (NYSE:MTZ) Director C Robert Campbell Sells 3,000 Shares of Stock

MasTec, Inc. (NYSE:MTZ) Director C Robert Campbell sold 3,000 shares of the 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 transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

MasTec Price Performance

MTZ stock opened at $126.14 on Friday. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of -901.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The company has a 50 day simple moving average of $108.63 and a 200 day simple moving average of $102.37. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $127.97.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that MasTec, Inc. will post 2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. The Goldman Sachs Group raised their price objective on MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. B. Riley boosted their price target on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup increased their price objective on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Truist Financial restated a “hold” rating and issued a $112.00 target price (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. Finally, DA Davidson increased their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.50.

Institutional Trading of MasTec

A number of hedge funds have recently made changes to their positions in MTZ. Point72 Asset Management L.P. raised its holdings in MasTec by 96.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of MasTec by 25.6% during the fourth quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after acquiring an additional 21,564 shares during the last quarter. 1492 Capital Management LLC acquired a new position in shares of MasTec during the fourth quarter worth $1,059,000. The Manufacturers Life Insurance Company grew its stake in shares of MasTec by 5.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock worth $25,975,000 after purchasing an additional 18,402 shares during the last quarter. Finally, FACT Capital LP increased its holdings in MasTec by 20.7% in the fourth quarter. FACT Capital LP now owns 101,929 shares of the construction company’s stock valued at $7,718,000 after purchasing an additional 17,511 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

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.