MasTec, Inc. (NYSE:MTZ) COO Sells $2,525,400.00 in Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MasTec Stock Performance

Shares of NYSE MTZ traded down $1.39 during midday trading on Tuesday, hitting $124.00. The company’s stock had a trading volume of 603,175 shares, compared to its average volume of 869,165. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $127.97. The firm’s fifty day moving average price is $109.05 and its 200-day moving average price is $102.82. The firm has a market cap of $9.85 billion, a P/E ratio of -895.57 and a beta of 1.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective 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 increased their target price on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. B. Riley boosted their price target on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. DA Davidson increased their price objective on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Truist Financial reiterated a “hold” rating and set a $112.00 price objective (up previously from $109.00) on shares of MasTec in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, MasTec has an average rating of “Moderate Buy” and a consensus price target of $117.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its position in shares of MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. bought a new stake in MasTec during the 2nd quarter valued at $79,494,000. Norges Bank acquired a new position in MasTec during the 4th quarter worth $46,970,000. Point72 Asset Management L.P. boosted its position in MasTec by 96.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after acquiring an additional 502,039 shares during the period. Finally, Hood River Capital Management LLC grew its stake in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after purchasing an additional 446,762 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.