MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple Sells 10,000 Shares of Stock

MasTec, Inc. (NYSE:MTZ) COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer owned 194,249 shares in the company, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

MasTec Stock Performance

NYSE:MTZ opened at $177.93 on Friday. The stock has a market cap of $14.04 billion, a P/E ratio of 65.42 and a beta of 1.75. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The stock’s 50-day moving average is $163.55 and its 200-day moving average is $142.50. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $178.93.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the business posted ($0.13) earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Forum Financial Management LP grew its stake in shares of MasTec by 3.9% during the 1st quarter. Forum Financial Management LP now owns 2,097 shares of the construction company’s stock worth $245,000 after acquiring an additional 78 shares during the period. Parallel Advisors LLC grew its stake in shares of MasTec by 37.1% during the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after acquiring an additional 82 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of MasTec by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company’s stock worth $2,007,000 after acquiring an additional 100 shares during the period. Securian Asset Management Inc. boosted its stake in MasTec by 2.2% in the 1st quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock worth $551,000 after purchasing an additional 100 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in MasTec by 16.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock worth $87,000 after purchasing an additional 104 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several research reports. Wolfe Research initiated coverage on MasTec in a research report on Monday, March 31st. They issued a “peer perform” rating for the company. Wall Street Zen cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Truist Financial lifted their price target on MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a report on Monday, May 5th. KeyCorp reiterated an “overweight” rating and issued a $196.00 price objective (up from $171.00) on shares of MasTec in a research report on Wednesday. Finally, Jefferies Financial Group assumed coverage on MasTec in a research report on Friday, May 16th. They issued a “buy” rating and a $188.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Buy” and a consensus price target of $171.24.

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.