Insider Selling: MasTec, Inc. (NYSE:MTZ) Director Sells 2,517 Shares of Stock

MasTec, Inc. (NYSE:MTZ) Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were 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 owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

MasTec Stock Down 3.3 %

Shares of NYSE MTZ opened at $118.70 on Friday. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 105.98 and a beta of 1.74. 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, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The stock has a 50-day moving average price of $133.53 and a two-hundred day moving average price of $133.14.

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, topping analysts’ consensus estimates 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%. As a group, analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new position in MasTec in the fourth quarter valued at about $59,910,000. First Trust Advisors LP increased its stake in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after buying an additional 373,145 shares during the period. Balyasny Asset Management L.P. raised its holdings in MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after buying an additional 363,502 shares during the last quarter. Merewether Investment Management LP acquired a new stake in MasTec during the 4th quarter worth approximately $46,612,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after acquiring an additional 289,090 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on MTZ shares. Guggenheim reissued a “buy” rating and issued a $195.00 price objective on shares of MasTec in a report on Tuesday. Barclays boosted their price target on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lowered their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. B. Riley reaffirmed a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, Robert W. Baird reduced their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two research 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. Based on data from MarketBeat.com, the stock currently has an average 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.