MasTec, Inc. (NYSE:MTZ)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a research report issued on Saturday. They currently have a $55.50 price target on the construction company’s stock. Stifel Nicolaus’ price target points to a potential upside of 39.97% from the stock’s current price.
MTZ has been the topic of a number of other reports. Vetr downgraded shares of MasTec from a “buy” rating to a “hold” rating and set a $45.42 price target on the stock. in a research note on Monday, June 5th. ValuEngine raised shares of MasTec from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Citigroup Inc. raised shares of MasTec from a “neutral” rating to a “buy” rating in a research note on Friday. Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $46.00 to $55.00 in a research note on Monday, July 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $55.00 target price on shares of MasTec in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $48.15.
Shares of MasTec (NYSE MTZ) opened at 39.65 on Friday. The company has a 50-day moving average of $44.37 and a 200-day moving average of $42.15. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 13.98 and a beta of 1.44. MasTec has a 52-week low of $26.75 and a 52-week high of $49.50.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.50 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business’s revenue was up 53.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. Equities research analysts anticipate that MasTec will post $2.74 EPS for the current year.
In other MasTec news, Director Jose S. Sorzano sold 2,391 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 37,545 shares of the company’s stock, valued at approximately $1,710,550.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 12,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the completion of the sale, the director now directly owns 67,082 shares in the company, valued at $3,018,690. The disclosure for this sale can be found here. Corporate insiders own 20.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after buying an additional 229 shares in the last quarter. IFP Advisors Inc increased its stake in shares of MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock worth $101,000 after buying an additional 1,725 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of MasTec during the second quarter worth approximately $102,000. Envestnet Asset Management Inc. increased its stake in shares of MasTec by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after buying an additional 197 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in shares of MasTec by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after buying an additional 1,799 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors.
About MasTec
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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