MasTec, Inc. (NYSE:MTZ) Short Interest Update

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

Insider Activity

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

Hedge Funds Weigh In On MasTec

Several institutional investors have recently bought and sold shares of MTZ. EverSource Wealth Advisors LLC increased its holdings in shares of MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after buying an additional 116 shares during the last quarter. Colonial Trust Co SC grew its position in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Rothschild Investment LLC increased its stake in MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in MasTec during the first quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC raised its position in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after purchasing an additional 128 shares during the period. Institutional investors own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup boosted their price target on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a report on Monday, May 5th. Robert W. Baird lowered their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Stifel Nicolaus boosted their price objective on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Piper Sandler raised their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, B. Riley reiterated a "buy" rating and issued a $165.00 price target (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $166.75.

MasTec Price Performance

NYSE MTZ traded down $1.24 on Friday, reaching $163.42. The company had a trading volume of 1,586,801 shares, compared to its average volume of 948,970. The firm's 50 day moving average price is $145.44 and its 200 day moving average price is $137.68. MasTec has a 12 month low of $89.96 and a 12 month high of $168.14. The stock has a market capitalization of $12.89 billion, a PE ratio of 60.08 and a beta of 1.75. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69.

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

About MasTec

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.