MasTec, Inc. (NYSE:MTZ) Director Sells $331,312.71 in Stock

MasTec, Inc. (NYSE:MTZ) Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

MasTec Stock Down 3.0 %

NYSE:MTZ opened at $115.22 on Friday. The firm’s 50-day moving average price is $132.73 and its 200-day moving average price is $133.23. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The company has a market capitalization of $9.14 billion, a PE ratio of 102.87 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of analyst reports. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Truist Financial lifted their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup increased their price target on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Guggenheim restated a “buy” rating and issued a $195.00 price objective on shares of MasTec in a research report on Tuesday. Finally, Barclays increased their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

Institutional Investors Weigh In On MasTec

Several institutional investors and hedge funds have recently made changes to their positions in MTZ. Wealth Enhancement Advisory Services LLC raised its stake in shares of MasTec by 45.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,360 shares of the construction company’s stock worth $1,819,000 after purchasing an additional 4,203 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in MasTec by 1.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company’s stock valued at $1,824,000 after acquiring an additional 236 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of MasTec during the 4th quarter valued at about $3,036,000. Forum Financial Management LP grew its stake in shares of MasTec by 23.8% in the fourth quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock worth $275,000 after acquiring an additional 388 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of MasTec during the fourth quarter valued at approximately $49,000. Institutional investors 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.