MasTec’s (MTZ) “Buy” Rating Reaffirmed at Stifel Nicolaus
MasTec, Inc. (NYSE:MTZ)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a note issued to investors on Saturday. They presently have a $55.50 target price on the construction company’s stock. Stifel Nicolaus’ target price points to a potential upside of 39.97% from the company’s current price.
Other analysts have also recently issued reports about the company. Citigroup Inc. upgraded MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday. Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Vetr upgraded MasTec from a “hold” rating to a “buy” rating and set a $47.14 price objective for the company in a research report on Tuesday, June 6th. FBR & Co boosted their price target on MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of MasTec in a research report on Monday, May 15th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $49.15.
Shares of MasTec (MTZ) opened at 39.65 on Friday. The company has a 50-day moving average of $44.37 and a 200 day moving average of $42.15. MasTec has a 12-month low of $26.75 and a 12-month high of $49.50. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 13.98 and a beta of 1.44.
MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 21.80% and a net margin of 3.89%. The business’s revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Analysts predict that MasTec will post $2.74 earnings per share for the current year.
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In other news, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the sale, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake in MasTec by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock valued at $240,000 after buying an additional 30 shares in the last quarter. Comerica Bank boosted its stake in MasTec by 0.3% in the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock valued at $1,295,000 after buying an additional 88 shares in the last quarter. US Bancorp DE boosted its stake in 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 in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in MasTec by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock valued at $2,396,000 after buying an additional 139 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in 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 in the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.
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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