MasTec, Inc. (MTZ) Director C Robert Campbell Sells 12,000 Shares
MasTec, Inc. (NYSE:MTZ) Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the transaction, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
MasTec, Inc. (NYSE MTZ) traded up 2.50% during mid-day trading on Friday, reaching $45.15. 475,947 shares of the company’s stock were exchanged. MasTec, Inc. has a one year low of $22.03 and a one year high of $47.90. The stock has a 50-day moving average of $43.51 and a 200-day moving average of $40.55. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 21.19 and a beta of 1.36.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.08. MasTec had a return on equity of 18.02% and a net margin of 3.29%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. On average, equities research analysts anticipate that MasTec, Inc. will post $2.46 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of MasTec by 3.4% in the fourth quarter. State Street Corp now owns 1,199,265 shares of the construction company’s stock valued at $45,875,000 after buying an additional 39,991 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of MasTec by 102.8% in the fourth quarter. Federated Investors Inc. PA now owns 56,675 shares of the construction company’s stock valued at $2,168,000 after buying an additional 28,725 shares during the last quarter. FMR LLC bought a new stake in shares of MasTec during the fourth quarter valued at $20,566,000. Trexquant Investment LP bought a new stake in shares of MasTec during the fourth quarter valued at $208,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of MasTec during the fourth quarter valued at $216,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.
MTZ has been the subject of several recent research reports. Zacks Investment Research downgraded MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. DA Davidson raised MasTec from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $50.00 in a research note on Thursday, April 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price objective on shares of MasTec in a research note on Monday, May 15th. Vetr raised MasTec from a “hold” rating to a “buy” rating and set a $45.42 price objective for the company in a research note on Monday, May 15th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $45.00 price objective (up previously from $40.00) on shares of MasTec in a research note on Saturday, April 22nd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.40.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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