MasTec, Inc. (MTZ) Given Average Rating of “Buy” by Analysts
MasTec, Inc. (NYSE:MTZ) has received a consensus rating of “Buy” from the fifteen analysts that are covering the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $42.29.
Several brokerages have recently weighed in on MTZ. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of MasTec in a research note on Friday, May 5th. FBR & Co reissued an “outperform” rating and issued a $57.00 price target (up previously from $50.00) on shares of MasTec in a research note on Monday, May 8th. Deutsche Bank AG increased their price target on MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 8th. DA Davidson increased their price target on MasTec from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Finally, Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 11th.
MasTec (NYSE:MTZ) traded up 0.73% during trading on Friday, reaching $41.45. The company had a trading volume of 817,800 shares. The firm’s 50 day moving average price is $42.67 and its 200 day moving average price is $38.69. The firm has a market capitalization of $3.35 billion, a PE ratio of 19.45 and a beta of 1.36. MasTec has a 12-month low of $20.86 and a 12-month high of $47.90.
MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.06 billion. MasTec had a return on equity of 10.76% and a net margin of 0.02%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Analysts anticipate that MasTec will post $2.46 earnings per share for the current year.
In related news, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $45.06, for a total transaction of $1,126,500.00. Following the sale, the chief operating officer now owns 227,816 shares in the company, valued at approximately $10,265,388.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.40% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in MTZ. US Bancorp DE raised its stake in shares of MasTec by 0.3% in the first quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock valued at $1,788,000 after buying an additional 123 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of MasTec by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock valued at $1,773,000 after buying an additional 146 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of MasTec by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock valued at $107,000 after buying an additional 197 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of 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, Prudential Financial Inc. raised its stake in shares of MasTec by 1.8% in the third quarter. Prudential Financial Inc. now owns 26,577 shares of the construction company’s stock valued at $790,000 after buying an additional 460 shares during the last quarter. Institutional investors own 68.50% 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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