Brokerages Set MasTec, Inc. (NYSE:MTZ) Price Target at $117.50

Shares of MasTec, Inc. (NYSE:MTZ) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $117.50.

Several equities analysts recently issued reports on MTZ shares. Citigroup raised their price objective on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus lifted their price target on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. DA Davidson increased their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their target price on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, B. Riley increased their price target on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasTec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new position in shares of MasTec during the second quarter worth about $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the second quarter valued at approximately $40,000. GAMMA Investing LLC lifted its position in shares of 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 in the last quarter. Quarry LP bought a new position in MasTec in the fourth quarter valued at $37,000. Finally, Blue Trust Inc. increased its stake in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 1.3 %

Shares of MTZ opened at $126.14 on Monday. The stock’s fifty day simple moving average is $108.63 and its 200 day simple moving average is $102.37. MasTec has a twelve month low of $44.65 and a twelve month high of $127.97. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $10.02 billion, a P/E ratio of -901.00 and a beta of 1.70.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that MasTec will post 2.71 earnings per share for the current year.

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.