MasTec, Inc. (NYSE:MTZ) Receives Average Recommendation of “Moderate Buy” from Brokerages

MasTec, Inc. (NYSE:MTZ) has been given an average rating of “Moderate Buy” by the twenty-one research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $466.8889.

Several research firms have recently weighed in on MTZ. The Goldman Sachs Group raised their price objective on MasTec from $348.00 to $487.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Weiss Ratings lowered MasTec from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. CICC Research initiated coverage on MasTec in a report on Thursday, May 21st. They set an “outperform” rating and a $480.00 target price for the company. UBS Group increased their price target on MasTec from $420.00 to $453.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, B. Riley Financial reissued a “buy” rating on shares of MasTec in a research note on Monday, May 4th.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the transaction, the director directly owned 10,816 shares of the company’s stock, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the sale, the director owned 30,646 shares in the company, valued at $12,779,382. This represents a 8.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 21.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Earned Wealth Advisors LLC raised its stake in MasTec by 2.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company’s stock valued at $326,000 after purchasing an additional 28 shares during the period. Aigen Investment Management LP grew its holdings in shares of MasTec by 3.8% during the fourth quarter. Aigen Investment Management LP now owns 1,041 shares of the construction company’s stock valued at $226,000 after buying an additional 38 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in MasTec by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,927 shares of the construction company’s stock valued at $636,000 after buying an additional 43 shares during the period. Everhart Financial Group Inc. raised its position in MasTec by 5.4% during the second quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company’s stock valued at $364,000 after buying an additional 45 shares during the period. Finally, Motley Fool Asset Management LLC raised its position in MasTec by 3.7% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company’s stock valued at $285,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Down 8.1%

Shares of NYSE:MTZ opened at $287.00 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.32. The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of 50.26 and a beta of 1.77. MasTec has a 1-year low of $160.08 and a 1-year high of $441.43. The company has a 50 day moving average price of $369.21 and a 200 day moving average price of $332.92.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The firm’s revenue was up 34.5% on a year-over-year basis. On average, research analysts anticipate that MasTec will post 9.18 EPS for the current fiscal year.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.