ValuEngine upgraded shares of MasTec, Inc. (NYSE:MTZ) from a buy rating to a strong-buy rating in a report released on Friday, August 4th.
Several other equities research analysts also recently issued reports on MTZ. DA Davidson upgraded MasTec from a neutral rating to a buy rating and upped their price target for the stock from $44.00 to $50.00 in a report on Thursday, April 13th. Deutsche Bank AG reiterated a hold rating and set a $45.00 price target (up previously from $40.00) on shares of MasTec in a report on Saturday, April 22nd. Zacks Investment Research cut MasTec from a strong-buy rating to a hold rating in a research report on Wednesday, April 26th. Canaccord Genuity reissued a buy rating and issued a $52.00 price objective on shares of MasTec in a research report on Friday, May 5th. Finally, FBR & Co reissued an outperform rating and issued a $57.00 price objective (up previously from $50.00) on shares of MasTec in a research report on Monday, May 8th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. MasTec presently has an average rating of Buy and an average price target of $46.47.
MasTec (MTZ) traded up 0.75% during midday trading on Friday, hitting $40.55. The stock had a trading volume of 842,898 shares. MasTec has a 1-year low of $26.75 and a 1-year high of $49.50. The stock’s 50-day moving average is $44.98 and its 200-day moving average is $42.18. The stock has a market capitalization of $3.28 billion, a PE ratio of 14.30 and a beta of 1.44.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. MasTec’s revenue was up 53.4% compared to the same quarter last year. On average, equities research analysts anticipate that MasTec will post $2.74 EPS for the current fiscal year.
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In other news, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $540,000.00. Following the transaction, the director now owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose S. Sorzano sold 2,391 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the transaction, the director now directly owns 37,545 shares in the company, valued at approximately $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of MTZ. Teacher Retirement System of Texas boosted its stake in shares of MasTec by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock worth $240,000 after buying an additional 30 shares during the period. Comerica Bank boosted its stake in shares of MasTec by 0.3% in the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock worth $1,295,000 after buying an additional 88 shares during the period. US Bancorp DE boosted its stake in shares of MasTec by 0.3% in the first quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock worth $1,788,000 after buying an additional 123 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of MasTec by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock worth $2,396,000 after buying an additional 139 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of MasTec by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock worth $1,773,000 after buying an additional 146 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.
MasTec Company Profile
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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