MasTec, Inc. (MTZ) Rating Reiterated by Stifel Nicolaus
MasTec, Inc. (NYSE:MTZ)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a research report issued 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.
Several other research analysts have also recently issued reports on MTZ. Deutsche Bank AG restated a “hold” rating and issued a $45.00 target price (up previously from $40.00) on shares of MasTec in a report on Saturday, April 22nd. Zacks Investment Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and issued a $52.00 target price on shares of MasTec in a report on Friday, May 5th. FBR & Co restated an “outperform” rating and issued a $57.00 target price (up previously from $50.00) on shares of MasTec in a report on Monday, May 8th. Finally, DA Davidson raised their target price on shares of MasTec from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $49.15.
Shares of MasTec (NYSE MTZ) opened at 39.65 on Friday. The stock has a 50 day moving average of $44.37 and a 200-day moving average of $42.15. MasTec has a 1-year low of $26.75 and a 1-year high of $49.50. The company 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 issued its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue was up 53.4% on a year-over-year basis. Analysts forecast 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 business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the sale, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jose S. Sorzano sold 2,391 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total transaction of $108,933.96. Following the sale, the director now owns 37,545 shares in the company, valued at approximately $1,710,550.20. The disclosure for this sale can be found here. Insiders own 20.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of MasTec by 71.6% in the first quarter. Advisors Asset Management Inc. now owns 81,095 shares of the construction company’s stock worth $3,248,000 after buying an additional 33,840 shares during the period. Algert Global LLC boosted its stake in shares of MasTec by 3.9% in the first quarter. Algert Global LLC now owns 71,711 shares of the construction company’s stock worth $2,872,000 after buying an additional 2,687 shares during the period. First Trust Advisors LP boosted its stake in shares of MasTec by 21.8% in the first quarter. First Trust Advisors LP now owns 246,443 shares of the construction company’s stock worth $9,870,000 after buying an additional 44,107 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in shares of MasTec by 87.6% in the first quarter. Kornitzer Capital Management Inc. KS now owns 237,360 shares of the construction company’s stock worth $9,506,000 after buying an additional 110,845 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of MasTec during the first quarter worth approximately $131,000. Hedge funds and other institutional investors own 71.35% 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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