C Robert Campbell Sells 3,000 Shares of MasTec, Inc. (NYSE:MTZ) Stock

MasTec, Inc. (NYSE:MTZ) Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

MasTec Price Performance

Shares of NYSE MTZ opened at $155.61 on Friday. The firm’s 50-day moving average price is $125.34 and its 200-day moving average price is $134.17. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $166.95. The firm has a market capitalization of $12.28 billion, a P/E ratio of 138.94 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTZ. Barclays lifted their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Truist Financial boosted their target price on shares of MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a report on Monday, May 5th. Robert W. Baird dropped their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. B. Riley reiterated a “buy” rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, KeyCorp lifted their target price on MasTec from $140.00 to $163.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Arrowstreet Capital Limited Partnership bought a new stake in shares of MasTec during the fourth quarter worth about $59,910,000. First Trust Advisors LP increased its position in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of MasTec by 137.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Merewether Investment Management LP bought a new stake in shares of MasTec during the fourth quarter worth about $46,612,000. Finally, Ameriprise Financial Inc. increased its position in shares of MasTec by 171.2% during the first quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock worth $45,607,000 after acquiring an additional 246,666 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

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.