MasTec, Inc. (MTZ) Short Interest Up 44.6% in October

MasTec, Inc. (NYSE:MTZ) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,069,734 shares, an increase of 44.6% from the October 13th total of 5,581,486 shares. Currently, 12.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,036,605 shares, the days-to-cover ratio is currently 7.8 days.

MasTec (NYSE:MTZ) opened at $39.93 on Thursday. MasTec has a twelve month low of $34.20 and a twelve month high of $49.50. The firm has a market capitalization of $3,370.00, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.14 and a beta of 1.54. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. MasTec’s quarterly revenue was up 23.3% on a year-over-year basis. analysts expect that MasTec will post 2.65 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MTZ. Prudential Financial Inc. grew its holdings in MasTec by 126.7% during the second quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock worth $67,033,000 after acquiring an additional 829,650 shares during the period. Gotham Asset Management LLC acquired a new stake in MasTec in the second quarter valued at $19,803,000. Koch Industries Inc. acquired a new stake in MasTec in the second quarter valued at $429,000. Macquarie Group Ltd. grew its holdings in MasTec by 15.3% in the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after purchasing an additional 404,076 shares during the last quarter. Finally, 1060 Capital LLC grew its holdings in MasTec by 73.0% in the third quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock valued at $43,629,000 after purchasing an additional 396,847 shares during the last quarter. 71.05% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have weighed in on MTZ shares. Citigroup Inc. set a $54.00 price objective on MasTec and gave the company a “buy” rating in a research note on Friday, October 27th. Deutsche Bank AG upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, September 12th. Stifel Nicolaus restated a “buy” rating and set a $55.50 price target on shares of MasTec in a research note on Friday, October 13th. Credit Suisse Group upgraded MasTec from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $55.00 in a research note on Monday, July 24th. Finally, Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.14.

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About MasTec

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.

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