Insider Selling: MasTec, Inc. (NYSE:MTZ) COO Sells 20,000 Shares of Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

MasTec Stock Down 0.7 %

MasTec stock opened at $122.73 on Friday. The firm has a market capitalization of $9.75 billion, a P/E ratio of -876.64 and a beta of 1.70. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $127.97. The stock’s fifty day simple moving average is $110.18 and its 200-day simple moving average is $103.32.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.09. The company had revenue of $2.96 billion for 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 revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 EPS. As a group, equities analysts expect that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the 2nd quarter valued at $27,000. Quarry LP purchased a new position in MasTec in the fourth quarter valued at $37,000. GAMMA Investing LLC lifted its holdings in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after buying an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in MasTec during the 2nd quarter worth about $40,000. Finally, Bessemer Group Inc. increased its holdings in shares of MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after acquiring an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

MTZ has been the topic of several research reports. Truist Financial reissued a “hold” rating and issued a $112.00 price target (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. DA Davidson upped their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus boosted their price target on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Citigroup boosted their target price on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, B. Riley increased 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. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.50.

About MasTec

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.