MasTec, Inc. (NYSE:MTZ) COO Sells $1,750,000.00 in Stock

MasTec, Inc. (NYSE:MTZ - Get Free Report) COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction 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 represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

MasTec Price Performance

Shares of MTZ traded down $0.50 during trading hours on Monday, hitting $177.18. 158,128 shares of the stock were exchanged, compared to its average volume of 942,429. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $179.74. The company has a market cap of $13.98 billion, a price-to-earnings ratio of 65.14 and a beta of 1.75. The stock's 50-day moving average price is $163.55 and its two-hundred day moving average price is $142.56.

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

Analysts Set New Price Targets

MTZ has been the topic of several research reports. Guggenheim restated a "buy" rating and set a $195.00 price target on shares of MasTec in a research note on Monday, May 5th. Roth Capital initiated coverage on MasTec in a research note on Tuesday, July 1st. They set a "buy" rating and a $210.00 price target on the stock. Stifel Nicolaus raised their price target on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Barclays reiterated an "overweight" rating and issued a $200.00 target price (up previously from $145.00) on shares of MasTec in a research note on Monday. Finally, Wolfe Research initiated coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $174.47.

Hedge Funds Weigh In On MasTec

Several large investors have recently modified their holdings of MTZ. EverSource Wealth Advisors LLC raised its position in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC grew its stake in MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the last quarter. Rothschild Investment LLC grew its stake in MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after buying an additional 263 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in MasTec during the 1st quarter worth approximately $35,000. Finally, Harbor Investment Advisory LLC grew its stake in MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

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.