Stock Traders Purchase Large Volume of MasTec Put Options (MTZ)

MasTec (NYSE:MTZ) saw unusually large options trading on Thursday. Stock traders acquired 5,446 put options on the company. This represents an increase of approximately 1,282% compared to the average daily volume of 394 put options.

In other MasTec news, EVP Cardenas Alberto De sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $49.55, for a total value of $743,250.00. Following the completion of the sale, the executive vice president now owns 110,502 shares in the company, valued at $5,475,374.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julia L. Johnson sold 29,607 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $51.11, for a total value of $1,513,213.77. Following the completion of the sale, the director now owns 72,921 shares of the company’s stock, valued at approximately $3,726,992.31. The disclosure for this sale can be found here. Insiders own 20.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC increased its stake in shares of MasTec by 331.8% during the first quarter. Penserra Capital Management LLC now owns 2,254 shares of the construction company’s stock valued at $103,000 after buying an additional 1,732 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in MasTec in the fourth quarter worth $107,000. DekaBank Deutsche Girozentrale purchased a new stake in MasTec in the first quarter worth $112,000. FNY Partners Fund LP purchased a new stake in MasTec in the fourth quarter worth $122,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in MasTec by 81.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after purchasing an additional 1,179 shares during the period. 82.27% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on MTZ. Credit Suisse Group lowered their price objective on MasTec from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, May 2nd. Robert W. Baird lowered their price objective on MasTec from $55.00 to $51.00 and set a “hold” rating for the company in a research report on Tuesday, May 1st. Deutsche Bank upgraded MasTec to a “buy” rating and boosted their price objective for the company from $43.00 to $48.00 in a research report on Thursday, March 22nd. Citigroup reiterated a “buy” rating on shares of MasTec in a research report on Thursday, March 22nd. Finally, ValuEngine downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $60.15.

MasTec opened at $49.35 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.74 and a current ratio of 1.82. MasTec has a 52-week low of $38.40 and a 52-week high of $55.53. The company has a market cap of $4.06 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.57.

MasTec (NYSE:MTZ) last posted its earnings results on Monday, April 30th. The construction company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.14. MasTec had a return on equity of 15.48% and a net margin of 4.86%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The business’s revenue was up 20.6% compared to the same quarter last year. equities analysts anticipate that MasTec will post 3.56 EPS for the current year.

About MasTec

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.

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply