Insider Selling: 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 business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following 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 legal filing with the SEC, which is available at this hyperlink.

MasTec Price Performance

Shares of NYSE MTZ opened at $122.73 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of -876.64 and a beta of 1.70. The firm’s 50 day simple moving average is $110.18 and its 200-day simple moving average is $103.32. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $127.97.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that MasTec, Inc. will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTZ. Citigroup boosted their price objective on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. B. Riley boosted their price target on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus increased their price objective on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Finally, DA Davidson increased their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average target price of $117.50.

Hedge Funds Weigh In On MasTec

A number of large investors have recently bought and sold shares of MTZ. Electron Capital Partners LLC grew its holdings in MasTec by 16.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after purchasing an additional 238,874 shares during the period. Pacer Advisors Inc. lifted its position in shares of MasTec by 15,067.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares in the last quarter. Hood River Capital Management LLC grew its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares during the period. Frontier Capital Management Co. LLC increased its holdings in MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in MasTec by 96.4% during the fourth 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. 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.