Stock Traders Purchase Large Volume of Put Options on MasTec (MTZ)
MasTec (NYSE:MTZ) was the target of unusually large options trading activity on Thursday. Investors purchased 5,446 put options on the company. This is an increase of approximately 1,282% compared to the typical daily volume of 394 put options.
A number of brokerages have recently weighed in on MTZ. ValuEngine raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus lifted their target price on shares of MasTec from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a research note on Friday, January 19th. Credit Suisse Group reaffirmed an “outperform” rating and set a $69.00 target price (up previously from $58.00) on shares of MasTec in a research note on Thursday, January 18th. Finally, Citigroup lifted their target price on shares of MasTec from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $60.15.
NYSE:MTZ opened at $49.45 on Friday. MasTec has a one year low of $49.00 and a one year high of $50.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.74 and a current ratio of 1.82. The stock has a market cap of $4.06 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.01 and a beta of 1.57.
In other MasTec news, Director Julia L. Johnson sold 29,607 shares of the firm’s stock in a transaction 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 sale, the director now owns 72,921 shares of the company’s stock, valued at approximately $3,726,992.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Cardenas Alberto De sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $49.55, for a total transaction of $743,250.00. Following the completion of the sale, the executive vice president now directly owns 110,502 shares in the company, valued at approximately $5,475,374.10. The disclosure for this sale can be found here. 20.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of MTZ. Boston Partners bought a new stake in MasTec during the first quarter worth about $68,949,000. Victory Capital Management Inc. boosted its stake in MasTec by 207,898.9% during the fourth quarter. Victory Capital Management Inc. now owns 740,476 shares of the construction company’s stock worth $36,246,000 after acquiring an additional 740,120 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in MasTec by 297.1% during the fourth quarter. Handelsbanken Fonder AB now owns 675,000 shares of the construction company’s stock worth $33,041,000 after acquiring an additional 505,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in MasTec by 254.4% during the fourth quarter. Renaissance Technologies LLC now owns 661,000 shares of the construction company’s stock worth $32,356,000 after acquiring an additional 474,500 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in MasTec by 47.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock worth $58,058,000 after acquiring an additional 380,880 shares in the last quarter. 82.27% of the stock is currently owned by institutional investors and hedge funds.
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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