MasTec, Inc. (NYSE:MTZ) Given Average Rating of "Buy" by Analysts

Key Points

• MasTec, Inc. has received an average recommendation of "Buy" from nineteen research firms, with three firms issuing a strong buy and one a hold rating.
• Recent price target upgrades from major firms include Goldman Sachs raising it to $195.00 and JPMorgan Chase raising it to $214.00.
• For the last quarter, MasTec reported earnings of $1.49 per share, exceeding analysts' expectations and marking a 19.7% year-over-year revenue increase.

MasTec, Inc. (NYSE:MTZ - Get Free Report) has been given a consensus rating of "Buy" by the nineteen brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $195.1176.

Several research analysts have recently commented on MTZ shares. Wall Street Zen raised shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Roth Capital began coverage on MasTec in a research note on Tuesday, July 1st. They issued a "buy" rating and a $210.00 target price for the company. The Goldman Sachs Group increased their price target on MasTec from $195.00 to $227.00 and gave the stock a "buy" rating in a research report on Thursday. Baird R W upgraded MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Jefferies Financial Group began coverage on MasTec in a research report on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $4,018,570 over the last quarter. Corporate insiders own 21.30% of the company's stock.

Institutional Investors Weigh In On MasTec

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in MasTec by 163.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock worth $121,843,000 after buying an additional 648,184 shares during the period. First Trust Advisors LP lifted its position in shares of MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Merewether Investment Management LP acquired a new position in MasTec in the 4th quarter worth approximately $46,612,000. Finally, Ameriprise Financial Inc. grew its position in MasTec by 171.2% during the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock worth $45,607,000 after purchasing an additional 246,666 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Stock Performance

NYSE:MTZ traded down $1.52 during trading hours on Thursday, reaching $181.46. 771,373 shares of the stock were exchanged, compared to its average volume of 1,063,984. The stock has a market capitalization of $14.32 billion, a P/E ratio of 53.69 and a beta of 1.83. The firm has a 50 day simple moving average of $171.57 and a 200-day simple moving average of $145.86. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. MasTec has a 52 week low of $96.01 and a 52 week high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.08. The firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. As a group, sell-side analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

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.