Shares of MasTec, Inc. (NYSE:MTZ) have been given an average rating of “Buy” by the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $45.51.
MTZ has been the subject of a number of recent research reports. DA Davidson upgraded MasTec from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $50.00 in a research report on Thursday, April 13th. Canaccord Genuity restated a “buy” rating and issued a $52.00 target price on shares of MasTec in a report on Monday, May 15th. Vetr raised shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 price target on the stock in a research note on Monday, May 15th. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $45.00 price target (up from $40.00) on shares of MasTec in a research note on Saturday, April 22nd.
In other news, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $540,000.00. Following the sale, the director now directly owns 67,082 shares of the company’s stock, valued at $3,018,690. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the completion of the sale, the director now directly owns 37,545 shares in the company, valued at $1,710,550.20. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of MasTec by 3.4% in the fourth quarter. State Street Corp now owns 1,199,265 shares of the construction company’s stock valued at $45,875,000 after buying an additional 39,991 shares in the last quarter. FMR LLC acquired a new stake in shares of MasTec during the fourth quarter valued at about $20,566,000. Renaissance Technologies LLC bought a new stake in MasTec during the fourth quarter valued at $1,033,000. Guggenheim Capital LLC boosted its stake in MasTec by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 11,819 shares of the construction company’s stock valued at $452,000 after buying an additional 330 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in MasTec by 3.2% in the fourth quarter. AQR Capital Management LLC now owns 144,481 shares of the construction company’s stock valued at $5,526,000 after buying an additional 4,528 shares during the last quarter. 70.36% of the stock is currently owned by institutional investors.
MasTec (MTZ) traded down 0.12% during trading on Monday, reaching $43.10. The company had a trading volume of 827,383 shares. The company has a market capitalization of $3.49 billion, a P/E ratio of 20.23 and a beta of 1.44. MasTec has a 12 month low of $25.61 and a 12 month high of $47.90. The firm’s 50 day moving average is $45.39 and its 200-day moving average is $41.88.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 53.4% compared to the same quarter last year. On average, equities analysts expect that MasTec will post $2.74 earnings per share for the current year.
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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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