Short Interest in MasTec, Inc. (NYSE:MTZ) Decreases By 12.6%

MasTec, Inc. (NYSE:MTZ) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,740,000 shares, a drop of 12.6% from the January 31st total of 1,990,000 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 916,900 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of MasTec

A number of institutional investors have recently modified their holdings of the stock. Creative Planning lifted its holdings in shares of MasTec by 9.5% during the 3rd quarter. Creative Planning now owns 2,909 shares of the construction company’s stock worth $358,000 after acquiring an additional 253 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of MasTec by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company’s stock valued at $863,000 after purchasing an additional 485 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 100 shares during the last quarter. Forum Financial Management LP acquired a new position in shares of MasTec during the 3rd quarter worth $201,000. Finally, Moloney Securities Asset Management LLC bought a new stake in shares of MasTec during the 3rd quarter worth $1,024,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Trading Down 6.6 %

Shares of MTZ traded down $7.90 during trading hours on Friday, reaching $110.94. The stock had a trading volume of 543,725 shares, compared to its average volume of 1,110,982. The firm has a 50-day moving average of $140.50 and a 200 day moving average of $131.86. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a market cap of $8.79 billion, a P/E ratio of 99.36 and a beta of 1.73.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, sell-side analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MTZ shares. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Citigroup raised their price target on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Guggenheim started coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target for the company. Finally, KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.14.

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.