Brokerages Set MasTec, Inc. (MTZ) PT at $52.46
Shares of MasTec, Inc. (NYSE:MTZ) have earned an average rating of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $52.46.
Several equities analysts have recently weighed in on MTZ shares. ValuEngine raised MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. BidaskClub cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 8th. Vetr raised MasTec from a “hold” rating to a “buy” rating and set a $45.42 price target on the stock in a report on Monday, May 15th. Finally, Deutsche Bank AG raised their price target on MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a report on Monday, May 8th.
MasTec (MTZ) traded up 1.47% on Tuesday, hitting $41.40. The stock had a trading volume of 127,464 shares. The company has a market cap of $3.35 billion, a P/E ratio of 14.60 and a beta of 1.44. The stock has a 50 day moving average price of $43.02 and a 200 day moving average price of $42.31. MasTec has a 1-year low of $26.75 and a 1-year high of $49.50.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 53.4% compared to the same quarter last year. On average, equities research analysts expect that MasTec will post $2.74 EPS for the current fiscal year.
In other MasTec news, Director Jose S. Sorzano sold 2,391 shares of the company’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 completion of the transaction, the director now owns 37,545 shares in the company, valued at $1,710,550.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was 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 owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after buying an additional 229 shares in the last quarter. IFP Advisors Inc boosted its stake in 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 purchased a new stake in MasTec during the second quarter valued at $102,000. Envestnet Asset Management Inc. boosted its stake in 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 boosted its stake in 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. Hedge funds and other institutional investors own 70.59% of the company’s stock.
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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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