MasTec Inc. (MTZ) Stock Price Down 3.3%
MasTec Inc. (NYSE:MTZ) was down 3.3% during mid-day trading on Wednesday . The company traded as low as $29.00 and last traded at $29.13, with a volume of 364,653 shares. The stock had previously closed at $30.11.
A number of equities research analysts have issued reports on MTZ shares. Maxim Group increased their price target on MasTec from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Canaccord Genuity reiterated a “buy” rating on shares of MasTec in a research note on Sunday, May 8th. FBR & Co reiterated a “buy” rating on shares of MasTec in a research note on Tuesday, May 10th. Wunderlich increased their price target on MasTec from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. MasTec currently has an average rating of “Buy” and a consensus price target of C$27.25.
The stock’s market capitalization is $2.38 billion. The stock has a 50 day moving average of $27.58 and a 200 day moving average of $22.69.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.14. During the same period last year, the company earned $0.10 EPS. The firm earned $1.23 billion during the quarter, compared to analysts’ expectations of $1.16 billion. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that MasTec Inc. will post $1.58 EPS for the current year.
In other news, COO Robert E. Apple sold 40,000 shares of the stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of C$23.57, for a total value of C$942,800.00. Following the completion of the sale, the chief operating officer now owns 243,567 shares of the company’s stock, valued at approximately C$5,740,874.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 13,739 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of C$23.77, for a total transaction of C$326,576.03. Following the completion of the sale, the chief operating officer now directly owns 207,306 shares of the company’s stock, valued at approximately C$4,927,663.62. The disclosure for this sale can be found here.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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