MasTec, Inc. (NYSE:MTZ) PT Raised to $66.00 at FBR & Co
MasTec, Inc. (NYSE:MTZ) had its price target hoisted by investment analysts at FBR & Co from $57.00 to $66.00 in a report issued on Monday. The brokerage currently has an “outperform” rating on the construction company’s stock. FBR & Co’s target price indicates a potential upside of 54.03% from the company’s current price.
A number of other equities research analysts have also recently issued reports on MTZ. DA Davidson upgraded shares of MasTec from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $50.00 in a research report on Thursday, April 13th. Deutsche Bank AG reiterated a “hold” rating and set a $45.00 target price (up previously from $40.00) on shares of MasTec in a research report on Saturday, April 22nd. Zacks Investment Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 target price on shares of MasTec in a research report on Friday, May 5th. Finally, Vetr upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 target price for the company in a research report on Monday, May 15th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. MasTec presently has an average rating of “Buy” and a consensus price target of $44.09.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS.
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In other news, 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 transaction, the director now owns 37,545 shares of the company’s stock, valued at approximately $1,710,550.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 12,000 shares of the firm’s 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 transaction, the director now directly owns 67,082 shares in the company, valued at approximately $3,018,690. The disclosure for this sale can be found here. 20.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock valued at $101,000 after buying an additional 1,725 shares during the period. SG Americas Securities LLC acquired a new position in shares of MasTec during the second quarter valued at about $102,000. Pacad Investment Ltd. acquired a new position in shares of MasTec during the fourth quarter valued at about $107,000. Envestnet Asset Management Inc. raised its position 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 period. Finally, Global X Management Co. LLC raised its position in shares of MasTec by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after buying an additional 1,799 shares during the period. 70.36% of the stock is currently owned by institutional investors.
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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