MasTec, Inc. (NYSE:MTZ) Short Interest Down 30.1% in May

MasTec, Inc. (NYSE:MTZ - Get Free Report) saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,020,000 shares, a decrease of 30.1% from the May 15th total of 1,460,000 shares. Approximately 1.7% of the company's stock are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and issued a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. B. Riley reaffirmed a "buy" rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Jefferies Financial Group initiated coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price target for the company. Truist Financial increased their price objective on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus boosted their target price on shares of MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of "Buy" and an average price target of $166.75.

MasTec Stock Performance

MTZ stock opened at $163.65 on Tuesday. The stock has a market capitalization of $12.91 billion, a PE ratio of 146.12 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a 50 day moving average price of $142.78 and a 200 day moving average price of $137.16. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Analysts forecast that MasTec will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of MasTec

A number of institutional investors have recently bought and sold shares of MTZ. Hodges Capital Management Inc. grew its stake in shares of MasTec by 10.3% during the first quarter. Hodges Capital Management Inc. now owns 27,753 shares of the construction company's stock worth $3,239,000 after purchasing an additional 2,594 shares during the period. Strs Ohio acquired a new position in shares of MasTec during the 1st quarter worth about $1,082,000. Geneos Wealth Management Inc. increased its stake in shares of MasTec by 15.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company's stock valued at $89,000 after acquiring an additional 104 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of MasTec by 42.7% in the 1st quarter. Belpointe Asset Management LLC now owns 3,252 shares of the construction company's stock valued at $380,000 after acquiring an additional 973 shares during the period. Finally, Bayforest Capital Ltd grew its holdings in MasTec by 294.3% during the first quarter. Bayforest Capital Ltd now owns 6,419 shares of the construction company's stock valued at $749,000 after purchasing an additional 4,791 shares during the period. 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.

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