MasTec, Inc. (NYSE:MTZ) issued its quarterly earnings data on Thursday. The construction company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.34, Morningstar.com reports. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a net margin of 3.29% and a return on equity of 18.02%. MasTec’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. MasTec updated its Q3 guidance to $0.73 EPS and its FY17 guidance to $2.73 EPS.

Shares of MasTec (MTZ) traded down 6.34% during midday trading on Friday, reaching $42.85. 3,248,901 shares of the company’s stock traded hands. MasTec has a 52-week low of $23.86 and a 52-week high of $49.50. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 20.11 and a beta of 1.44. The stock has a 50 day moving average of $45.39 and a 200-day moving average of $41.88.

Several equities analysts recently commented on the stock. Vetr cut shares of MasTec from a “buy” rating to a “hold” rating and set a $45.42 target price for the company. in a research note on Monday, June 5th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the company from $46.00 to $55.00 in a research note on Monday, July 24th. Deutsche Bank AG upped their target price on shares of MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 8th. DA Davidson upped their target price on shares of MasTec from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Finally, FBR & Co upped their target price on shares of MasTec from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $43.40.

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In other news, Director Jose S. Sorzano sold 2,391 shares of MasTec stock in a transaction on Friday, June 9th. The stock was sold at an average price of $45.56, for a total transaction of $108,933.96. Following the completion of the sale, the director now owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 12,000 shares of MasTec stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $540,000.00. Following the sale, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of MTZ. State Board of Administration of Florida Retirement System increased its stake in MasTec by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock worth $2,396,000 after buying an additional 139 shares in the last quarter. Redwood Investments LLC increased its stake in MasTec by 50.1% in the second quarter. Redwood Investments LLC now owns 268,049 shares of the construction company’s stock worth $12,102,000 after buying an additional 89,513 shares in the last quarter. Turner Investments LLC increased its stake in MasTec by 35.0% in the second quarter. Turner Investments LLC now owns 13,500 shares of the construction company’s stock worth $610,000 after buying an additional 3,500 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in MasTec by 69.0% in the second quarter. Chartwell Investment Partners LLC now owns 145,444 shares of the construction company’s stock worth $6,567,000 after buying an additional 59,397 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in MasTec by 29.1% in the second quarter. BNP Paribas Arbitrage SA now owns 54,836 shares of the construction company’s stock worth $2,476,000 after buying an additional 12,345 shares in the last quarter. 69.57% of the stock is owned by institutional investors.

MasTec Company Profile

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.

Earnings History for MasTec (NYSE:MTZ)

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