MasTec, Inc. (NYSE:MTZ) Short Interest Down 12.6% in February

MasTec, Inc. (NYSE:MTZ - Get Free Report) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 1,740,000 shares, a decrease of 12.6% from the January 31st total of 1,990,000 shares. Currently, 2.8% of the company's stock are short sold. Based on an average daily trading volume, of 916,900 shares, the days-to-cover ratio is presently 1.9 days.

MasTec Stock Performance

Shares of MTZ traded down $3.51 during mid-day trading on Friday, hitting $115.33. 1,613,825 shares of the company's stock were exchanged, compared to its average volume of 1,136,669. MasTec has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The firm has a market capitalization of $9.14 billion, a P/E ratio of 102.97 and a beta of 1.74. The business's 50 day moving average is $140.09 and its two-hundred day moving average is $132.15. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities analysts expect that MasTec will post 3.44 earnings per share for the current year.

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Institutional Investors Weigh In On MasTec

Hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company's stock valued at $4,398,000 after purchasing an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC lifted its position in MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock valued at $3,880,000 after purchasing an additional 8,948 shares during the period. Atom Investors LP lifted its position in MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company's stock valued at $7,511,000 after purchasing an additional 55,363 shares during the period. Exchange Traded Concepts LLC lifted its position in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock valued at $2,433,000 after purchasing an additional 13,241 shares during the period. Finally, State Street Corp lifted its position in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MTZ shares. Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 target price on the stock. Barclays increased their target price on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. KeyCorp increased their target price on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Citigroup increased their target price on MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Robert W. Baird dropped their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.14.

About MasTec

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.