MasTec (NYSE:MTZ) Stock Price Down 4.7% – What’s Next?

MasTec, Inc. (NYSE:MTZ) shares traded down 4.7% during trading on Tuesday . The stock traded as low as $155.23 and last traded at $154.67. 287,783 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 937,309 shares. The stock had previously closed at $162.32.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Wall Street Zen upgraded MasTec from a “buy” rating to a “strong-buy” rating in a research note on Monday. The Goldman Sachs Group upgraded shares of MasTec from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $156.00 to $195.00 in a research report on Friday. KeyCorp lifted their price target on MasTec from $140.00 to $163.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $166.75.

MasTec Stock Down 2.8%

The firm has a market capitalization of $12.45 billion, a PE ratio of 140.85 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm’s 50-day moving average is $137.34 and its 200 day moving average is $136.56.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,027,490. This trade represents a 9.86% 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 Trading of MasTec

Several hedge funds have recently added to or reduced their stakes in MTZ. Brighton Jones LLC acquired a new stake in shares of MasTec in the fourth quarter valued at $227,000. Stratos Wealth Partners LTD. purchased a new position in MasTec during the fourth quarter valued at approximately $208,000. Mirae Asset Global Investments Co. Ltd. boosted its position in MasTec by 1,205.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,940 shares of the construction company’s stock valued at $1,214,000 after purchasing an additional 8,255 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of MasTec in the 4th quarter valued at approximately $1,480,000. Finally, Entropy Technologies LP acquired a new position in shares of MasTec during the 4th quarter worth $1,301,000. Institutional investors own 78.10% of the company’s stock.

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.