Stock Traders Buy Large Volume of Put Options on MasTec (NYSE:MTZ)

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MasTec, Inc. (NYSE:MTZ) was the target of some unusual options trading activity on Thursday. Investors bought 1,295 put options on the company. This is an increase of 1,750% compared to the typical volume of 70 put options.

MTZ has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of MasTec from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. B. Riley increased their price objective on shares of MasTec from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Craig Hallum reduced their price objective on shares of MasTec from $85.00 to $71.00 and set a “buy” rating for the company in a research note on Monday, May 4th. KeyCorp increased their price objective on shares of MasTec from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, UBS Group cut their target price on shares of MasTec from $73.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $53.00.

MTZ opened at $39.78 on Friday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 7.83 and a beta of 1.46. The company has a fifty day moving average of $41.36 and a 200 day moving average of $43.17. MasTec has a fifty-two week low of $22.51 and a fifty-two week high of $73.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.57 and a current ratio of 1.65.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.21. MasTec had a net margin of 5.44% and a return on equity of 22.94%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. On average, equities research analysts forecast that MasTec will post 4.5 earnings per share for the current year.

In other MasTec news, Director Robert J. Dwyer sold 5,945 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $41.09, for a total transaction of $244,280.05. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $616,350. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 23.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Verus Capital Partners LLC bought a new position in MasTec during the first quarter valued at $28,000. Liberty One Investment Management LLC bought a new position in MasTec during the second quarter valued at $30,000. Emerald Mutual Fund Advisers Trust bought a new position in MasTec during the second quarter valued at $31,000. Pendal Group Ltd lifted its position in MasTec by 75.8% during the first quarter. Pendal Group Ltd now owns 2,419 shares of the construction company’s stock valued at $79,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in MasTec during the fourth quarter valued at $100,000. Institutional investors and hedge funds own 82.82% of the company’s stock.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other 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.

See Also: Accumulation/Distribution

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