MasTec (MTZ) Sees Unusually-High Trading Volume

Shares of MasTec, Inc. (NYSE:MTZ) saw unusually-strong trading volume on Thursday . Approximately 5,163,560 shares changed hands during mid-day trading, an increase of 387% from the previous session’s volume of 1,059,780 shares.The stock last traded at $50.67 and had previously closed at $48.96.

A number of research analysts have recently commented on MTZ shares. Canaccord Genuity restated a “buy” rating and issued a $65.00 price target on shares of MasTec in a report on Friday, August 3rd. ValuEngine cut shares of MasTec from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Zacks Investment Research cut shares of MasTec from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Citigroup restated a “buy” rating on shares of MasTec in a report on Thursday, August 30th. Finally, Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. MasTec presently has a consensus rating of “Buy” and a consensus target price of $60.42.

The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.85 and a current ratio of 1.94. The firm has a market capitalization of $3.85 billion, a PE ratio of 18.22, a PEG ratio of 1.68 and a beta of 1.43.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.13. MasTec had a net margin of 5.89% and a return on equity of 17.01%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that MasTec, Inc. will post 3.65 EPS for the current year.

Institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its holdings in MasTec by 79.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock worth $141,000 after acquiring an additional 1,225 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in MasTec during the 2nd quarter worth about $203,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in MasTec by 66.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,700 shares of the construction company’s stock worth $239,000 after acquiring an additional 1,880 shares in the last quarter. UBP Investment Advisors SA bought a new position in MasTec during the 3rd quarter worth about $223,000. Finally, MHI Funds LLC bought a new position in MasTec during the 3rd quarter worth about $241,000. Institutional investors own 83.27% of the company’s stock.

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About MasTec (NYSE:MTZ)

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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