Traders Purchase High Volume of Call Options on MasTec (MTZ)

MasTec, Inc. (NYSE:MTZ) saw unusually large options trading activity on Monday. Stock investors acquired 1,553 call options on the company. This is an increase of 777% compared to the average daily volume of 177 call options.

MTZ has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of MasTec in a research note on Thursday, March 22nd. Credit Suisse Group reduced their price target on shares of MasTec from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, May 2nd. ValuEngine lowered shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Craig Hallum reaffirmed a “buy” rating and issued a $69.00 price target (up from $64.00) on shares of MasTec in a research note on Thursday, March 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price target on shares of MasTec in a research note on Thursday, March 1st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $61.15.

MTZ stock opened at $53.50 on Tuesday. MasTec has a 12 month low of $38.40 and a 12 month high of $55.53. The company has a market cap of $4.20 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.98.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in MasTec by 1.6% during the fourth quarter. BlackRock Inc. now owns 4,824,757 shares of the construction company’s stock valued at $236,171,000 after purchasing an additional 75,133 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in MasTec by 29.7% during the first quarter. Lord Abbett & CO. LLC now owns 1,616,353 shares of the construction company’s stock valued at $76,049,000 after purchasing an additional 370,544 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of MasTec by 30.0% during the first quarter. Wells Fargo & Company MN now owns 1,542,215 shares of the construction company’s stock valued at $72,560,000 after acquiring an additional 356,143 shares during the period. Boston Partners acquired a new stake in shares of MasTec during the first quarter valued at approximately $68,949,000. Finally, Glenmede Trust Co. NA raised its holdings in shares of MasTec by 12.9% during the fourth quarter. Glenmede Trust Co. NA now owns 1,151,062 shares of the construction company’s stock valued at $56,343,000 after acquiring an additional 131,468 shares during the period. 80.14% of the stock is owned by institutional investors and hedge funds.

MasTec Company Profile

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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