MasTec (NYSE:MTZ) PT Raised to $121.00

MasTec (NYSE:MTZ) had its target price lifted by Stifel Nicolaus from $120.00 to $121.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen increased their price objective on MasTec from $105.00 to $110.00 and gave the company a buy rating in a research report on Monday, May 6th. KeyCorp increased their price target on shares of MasTec from $113.00 to $120.00 and gave the company an overweight rating in a report on Monday, May 13th. Citigroup boosted their price objective on shares of MasTec from $118.00 to $122.00 and gave the stock a buy rating in a report on Monday, July 22nd. DA Davidson increased their target price on shares of MasTec from $100.00 to $120.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Finally, Craig Hallum boosted their price target on MasTec from $96.00 to $125.00 and gave the company a buy rating in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $117.50.

MasTec Price Performance

Shares of MasTec stock opened at $108.35 on Monday. MasTec has a 1-year low of $44.65 and a 1-year high of $113.12. The firm has a fifty day simple moving average of $106.75 and a 200-day simple moving average of $93.87. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of -773.93 and a beta of 1.65.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.44%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. On average, sell-side analysts expect that MasTec will post 2.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the sale, the director now owns 50,725 shares in the company, valued at approximately $5,579,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the sale, the director now owns 50,725 shares of the company’s stock, valued at $5,579,750. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new position in MasTec in the 2nd quarter valued at $27,000. Quarry LP bought a new position in MasTec in the fourth quarter valued at about $37,000. GAMMA Investing LLC increased its position in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in MasTec during the 2nd quarter worth about $40,000. Finally, Bessemer Group Inc. lifted its position in MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares during the period. Institutional investors and hedge funds own 78.10% 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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.