Ernst N. Csiszar Sells 2,517 Shares of MasTec, Inc. (NYSE:MTZ) Stock

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

MasTec Stock Down 3.3 %

Shares of MTZ stock opened at $118.70 on Friday. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 105.98 and a beta of 1.74. The firm’s 50-day moving average is $133.53 and its 200-day moving average is $133.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

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

Hedge Funds Weigh In On MasTec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its stake in shares of MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock valued at $3,880,000 after acquiring an additional 8,948 shares during the period. Atom Investors LP lifted its position in MasTec by 979.0% during the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after acquiring an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after acquiring an additional 13,241 shares during the period. Finally, State Street Corp boosted its holdings in shares of MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the period. 78.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTZ. KeyCorp boosted their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. B. Riley restated a “buy” rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $195.00 target price on shares of MasTec in a research report on Tuesday. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

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.