MasTec (NYSE:MTZ) CAO Timothy Michael Love Sells 366 Shares of Stock

MasTec, Inc. (NYSE:MTZ) CAO Timothy Love sold 366 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $198.52, for a total value of $72,658.32. Following the transaction, the chief accounting officer owned 9,926 shares of the company’s stock, valued at $1,970,509.52. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MasTec Price Performance

MasTec stock opened at $167.96 on Thursday. The stock’s 50 day moving average is $211.44 and its 200 day moving average is $299.77. MasTec, Inc. has a one year low of $164.21 and a one year high of $441.43. The firm has a market cap of $13.49 billion, a P/E ratio of 27.44 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.39 and a quick ratio of 1.36.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, October 29th. The construction company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.01. MasTec had a net margin of 2.80% and a return on equity of 17.89%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the firm posted $2.48 EPS. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, research analysts expect that MasTec, Inc. will post 8.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays decreased their price objective on shares of MasTec from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Guggenheim boosted their target price on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Cantor Fitzgerald cut their price target on shares of MasTec from $348.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday. Zacks Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $353.00 price objective on shares of MasTec in a research report on Wednesday. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $347.80.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently modified their holdings of the business. Earned Wealth Advisors LLC lifted its holdings in shares of MasTec by 2.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company’s stock worth $326,000 after buying an additional 28 shares in the last quarter. Everhart Financial Group Inc. grew its stake in MasTec by 5.4% during the second quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company’s stock valued at $364,000 after acquiring an additional 45 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in MasTec by 40.7% during the third quarter. Armstrong Advisory Group Inc. now owns 197 shares of the construction company’s stock valued at $42,000 after acquiring an additional 57 shares in the last quarter. Parallel Advisors LLC increased its holdings in MasTec by 21.0% during the 1st quarter. Parallel Advisors LLC now owns 340 shares of the construction company’s stock worth $109,000 after acquiring an additional 59 shares during the period. Finally, North Dakota State Investment Board increased its holdings in MasTec by 3.2% during the 3rd quarter. North Dakota State Investment Board now owns 1,909 shares of the construction company’s stock worth $408,000 after acquiring an additional 60 shares during the period. 78.10% of the stock is currently owned by institutional investors.

MasTec Company Profile

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.