Deutsche Bank AG upgraded shares of MasTec, Inc. (NYSE:MTZ) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $50.00 target price on the construction company’s stock.
Several other research firms have also issued reports on MTZ. 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 upgraded shares of MasTec from a buy rating to a strong-buy rating and set a $45.42 target price for the company in a report on Thursday, May 25th. Zacks Investment Research upgraded shares of MasTec from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Tuesday, August 8th. ValuEngine lowered shares of MasTec from a strong-buy rating to a buy rating in a report on Friday, September 1st. Finally, FBR & Co raised their target price on shares of MasTec from $57.00 to $66.00 and gave the stock an outperform rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $52.46.
MasTec (NYSE MTZ) opened at 43.15 on Tuesday. MasTec has a 52-week low of $26.75 and a 52-week high of $49.50. The firm has a 50 day moving average of $42.05 and a 200-day moving average of $42.46. The stock has a market cap of $3.49 billion, a PE ratio of 15.22 and a beta of 1.44.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.34. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.36 EPS. Equities analysts anticipate that MasTec will post $2.74 earnings per share for the current fiscal year.
In related news, Director C Robert Campbell sold 12,000 shares of MasTec 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 completion of the sale, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 20.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after buying an additional 229 shares in the last quarter. SG Americas Securities LLC purchased a new position in MasTec during the 2nd quarter valued at about $102,000. IFP Advisors Inc increased its position in MasTec by 218.6% during the 1st quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock valued at $101,000 after purchasing an additional 1,725 shares during the period. Global X Management Co. LLC increased its position in MasTec by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,799 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in MasTec by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock valued at $107,000 after purchasing an additional 197 shares during the period. Institutional investors own 70.62% of the company’s stock.
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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