MasTec, Inc. (NYSE:MTZ) Receives $166.75 Average Target Price from Analysts

MasTec, Inc. (NYSE:MTZ) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $166.75.

Several equities research analysts recently weighed in on MTZ shares. Wall Street Zen upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 9th. Robert W. Baird dropped their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group raised shares of MasTec from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Stifel Nicolaus lifted their price objective on shares of MasTec from $171.00 to $181.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, B. Riley reaffirmed a “buy” rating and set a $165.00 price objective (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th.

MasTec Trading Down 0.8%

Shares of MTZ opened at $163.42 on Wednesday. The company’s fifty day moving average is $146.37 and its 200 day moving average is $137.81. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The stock has a market capitalization of $12.89 billion, a PE ratio of 60.08 and a beta of 1.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the business posted ($0.13) earnings per share. MasTec’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now directly owns 39,782 shares of the company’s stock, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock valued at $81,000 after acquiring an additional 78 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of MasTec by 3.9% in the first quarter. Forum Financial Management LP now owns 2,097 shares of the construction company’s stock valued at $245,000 after acquiring an additional 78 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after acquiring an additional 89 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of MasTec by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company’s stock valued at $2,007,000 after acquiring an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. raised its holdings in shares of MasTec by 2.2% in the first quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock valued at $551,000 after acquiring an additional 100 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.