Vetr Inc. Downgrades MasTec, Inc. (MTZ) to Hold
MasTec, Inc. (NYSE:MTZ) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $47.14 price objective on the construction company’s stock. Vetr‘s price objective points to a potential upside of 4.52% from the company’s previous close.
Several other brokerages have also recently weighed in on MTZ. FBR & Co restated an “outperform” rating and set a $57.00 target price (up from $50.00) on shares of MasTec in a report on Monday, May 8th. Canaccord Genuity restated a “buy” rating and set a $52.00 target price on shares of MasTec in a report on Friday, May 5th. Deutsche Bank AG boosted their target price on MasTec from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 8th. DA Davidson boosted their target price on MasTec from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Finally, Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.40.
MasTec (MTZ) traded down 0.55% during midday trading on Monday, hitting $45.10. The stock had a trading volume of 525,094 shares. The firm has a 50-day moving average of $43.59 and a 200-day moving average of $39.97. The company has a market cap of $3.65 billion, a PE ratio of 21.16 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 earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.06 billion. MasTec had a return on equity of 18.02% and a net margin of 3.29%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. Equities research analysts forecast that MasTec will post $2.46 EPS for the current year.
In related news, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $45.06, for a total value of $1,126,500.00. Following the transaction, the chief operating officer now directly owns 227,816 shares in the company, valued at $10,265,388.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 20.30% of the company’s stock.
A number of hedge funds 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 worth $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 worth $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 worth $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 worth $452,000 after buying an additional 330 shares during the last quarter. Finally, Private Harbour Investment Management & Counsel LLC raised its stake in shares of MasTec by 3.2% in the first quarter. Private Harbour Investment Management & Counsel LLC now owns 22,868 shares of the construction company’s stock worth $916,000 after buying an additional 710 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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