Shares of MasTec, Inc. (NYSE:MTZ - Get Free Report) dropped 15.9% during mid-day trading on Monday . The company traded as low as $134.61 and last traded at $134.43. Approximately 904,902 shares changed hands during trading, an increase of 5% from the average daily volume of 860,482 shares. The stock had previously closed at $159.75.
Analyst Ratings Changes
A number of research firms have recently commented on MTZ. Citigroup lifted their price objective on MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price target on the stock. Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. The Goldman Sachs Group boosted their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price target on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, MasTec has an average rating of "Moderate Buy" and a consensus price target of $157.21.
View Our Latest Stock Report on MasTec
MasTec Stock Down 18.1 %
The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 116.82 and a beta of 1.74. The business has a fifty day simple moving average of $143.19 and a two-hundred day simple moving average of $126.64. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.
Insider Activity at MasTec
In related news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,023 shares of company stock valued at $4,515,089 in the last 90 days. 21.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock worth $278,312,000 after acquiring an additional 895,227 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company's stock valued at $48,928,000 after purchasing an additional 289,090 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. AQR Capital Management LLC raised its position in MasTec by 3,439.7% in the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company's stock worth $28,085,000 after purchasing an additional 255,088 shares during the last quarter. Finally, Barclays PLC lifted its holdings in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after buying an additional 209,472 shares in the last quarter. Institutional investors own 78.10% of the company's stock.
About MasTec
(
Get Free Report)
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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