MasTec, Inc. (NYSE:MTZ) EVP Sells $1,806,900.00 in Stock

Key Points

• MasTec, Inc. EVP Cardenas Alberto De sold 10,000 shares of the company's stock for a total of $1,806,900.00, reducing his ownership by 8.98%.
• The company's stock dipped 0.1% to $182.96, with a market cap of $14.44 billion and a price-to-earnings ratio of 54.13.
• MasTec reported a quarterly EPS of $1.49, surpassing estimates and showcasing a 19.7% year-over-year increase in revenue.

MasTec, Inc. (NYSE:MTZ - Get Free Report) EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

MasTec Stock Down 0.1%

MTZ stock traded down $0.15 during midday trading on Thursday, hitting $182.96. 757,993 shares of the company's stock were exchanged, compared to its average volume of 1,057,858. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 12-month low of $96.01 and a 12-month high of $194.00. The firm has a 50 day moving average price of $170.52 and a 200-day moving average price of $145.62. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 54.13 and a beta of 1.83.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the business earned $0.96 EPS. MasTec's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MTZ shares. TD Cowen increased their price objective on MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday. Citigroup cut their price objective on MasTec from $220.00 to $219.00 and set a "buy" rating for the company in a research report on Monday. KeyCorp increased their price objective on MasTec from $196.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group raised their price target on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of "Buy" and a consensus price target of $195.12.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently made changes to their positions in the company. Colonial Trust Co SC boosted its position 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 acquiring an additional 141 shares during the period. Rothschild Investment LLC lifted its holdings in shares of MasTec by 2,023.1% in the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after buying an additional 263 shares during the period. Parkside Financial Bank & Trust raised its position in shares of MasTec by 253.7% during the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company's stock worth $33,000 after purchasing an additional 137 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of MasTec during the first quarter worth $35,000. Finally, Ameritas Advisory Services LLC acquired a new position in MasTec during the second quarter valued at $35,000. 78.10% of the stock is currently owned by institutional investors.

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.

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