MasTec, Inc. (NYSE:MTZ) had its price target hoisted by analysts at FBR & Co from $57.00 to $66.00 in a report issued on Monday, August 7th, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the construction company’s stock. FBR & Co’s price objective points to a potential upside of 66.46% from the stock’s previous close.
A number of other research analysts have also commented on the stock. DA Davidson upgraded shares of MasTec from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $50.00 in a research note on Thursday, April 13th. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $55.00 in a research report on Monday, July 24th. Vetr upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 price target on the stock in a research report on Monday, May 15th. Finally, Canaccord Genuity restated a “buy” rating and issued a $52.00 price target on shares of MasTec in a research report on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $49.15.
Shares of MasTec (MTZ) traded up 1.15% during midday trading on Monday, hitting $39.65. The company had a trading volume of 1,267,929 shares. The company has a 50-day moving average of $44.37 and a 200 day moving average of $42.15. MasTec has a 12 month low of $26.75 and a 12 month high of $49.50. The firm has a market capitalization of $3.21 billion, a PE ratio of 13.98 and a beta of 1.44.
MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. On average, analysts expect that MasTec will post $2.74 EPS for the current fiscal year.
In other news, Director C Robert Campbell sold 12,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were 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 in the company, valued at approximately $3,018,690. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jose S. Sorzano sold 2,391 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $45.56, for a total transaction of $108,933.96. Following the transaction, the director now 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 insiders.
A number of hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake in 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 last quarter. Comerica Bank boosted its stake in 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 last quarter. US Bancorp DE boosted its stake in 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 last quarter. State Board of Administration of Florida Retirement System raised its position in 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. raised its position in 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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