MasTec (MTZ) Sees Large Volume Increase

MasTec, Inc. (NYSE:MTZ) saw unusually-high trading volume on Thursday . Approximately 5,163,560 shares traded 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.

MTZ has been the subject of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price objective on shares of MasTec in a research report on Friday, August 3rd. ValuEngine lowered shares of MasTec from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Citigroup reaffirmed a “buy” rating on shares of MasTec in a research report on Thursday, August 30th. Finally, Robert W. Baird raised shares of MasTec from a “neutral” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Tuesday, August 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. MasTec presently has a consensus rating of “Buy” and an average price target of $60.42.

The company has a current ratio of 1.94, a quick ratio of 1.85 and a debt-to-equity ratio of 1.13. The stock has a market cap of $3.85 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.68 and a beta of 1.43.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.13. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.99 billion. MasTec had a net margin of 5.89% and a return on equity of 17.01%. MasTec’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. As a group, analysts predict that MasTec, Inc. will post 3.65 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG raised its holdings in MasTec by 12.8% in the 1st quarter. UBS Group AG now owns 53,009 shares of the construction company’s stock valued at $2,495,000 after buying an additional 6,000 shares during the period. LPL Financial LLC raised its holdings in MasTec by 34.8% in the 1st quarter. LPL Financial LLC now owns 6,266 shares of the construction company’s stock valued at $295,000 after buying an additional 1,616 shares during the period. Guggenheim Capital LLC raised its holdings in MasTec by 15.4% in the 1st quarter. Guggenheim Capital LLC now owns 25,295 shares of the construction company’s stock valued at $1,189,000 after buying an additional 3,382 shares during the period. Pendal Group Ltd raised its holdings in MasTec by 118.5% in the 2nd quarter. Pendal Group Ltd now owns 49,731 shares of the construction company’s stock valued at $2,524,000 after buying an additional 26,974 shares during the period. Finally, Amalgamated Bank raised its holdings in MasTec by 11.5% in the 2nd quarter. Amalgamated Bank now owns 9,926 shares of the construction company’s stock valued at $504,000 after buying an additional 1,024 shares during the period. Institutional investors and hedge funds 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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