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

MasTec, Inc. (NYSE:MTZ - Get Free Report) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,460,000 shares, a decline of 16.1% from the April 30th total of 1,740,000 shares. Approximately 2.4% of the company's shares are sold short. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Piper Sandler boosted their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Robert W. Baird reduced their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Citigroup lifted their price objective on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Guggenheim reiterated a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.69.

MasTec Trading Up 1.2%

Shares of MTZ stock traded up $1.83 on Thursday, hitting $159.46. The stock had a trading volume of 478,551 shares, compared to its average volume of 939,292. The firm has a market capitalization of $12.58 billion, a P/E ratio of 142.38 and a beta of 1.71. The company's 50 day moving average price is $134.78 and its 200-day moving average price is $136.19. MasTec has a 1 year low of $89.96 and a 1 year high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating 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%. MasTec's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. Analysts anticipate that MasTec will post 3.44 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in MasTec by 82.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,824 shares of the construction company's stock worth $1,065,000 after buying an additional 3,527 shares in the last quarter. Brighton Jones LLC acquired a new position in MasTec during the fourth quarter valued at approximately $227,000. KBC Group NV raised its stake in MasTec by 47.2% during the 4th quarter. KBC Group NV now owns 2,507 shares of the construction company's stock valued at $341,000 after purchasing an additional 804 shares during the last quarter. R Squared Ltd acquired a new position in shares of MasTec in the 4th quarter valued at $44,000. Finally, Caprock Group LLC grew its holdings in shares of MasTec by 30.8% in the 4th quarter. Caprock Group LLC now owns 3,924 shares of the construction company's stock worth $534,000 after purchasing an additional 925 shares during the last quarter. Hedge funds and other institutional investors 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.