MasTec (NYSE:MTZ) Price Target Raised to $195.00

Key Points

• MasTec's price target was raised from $175.00 to $195.00 by TD Cowen, indicating a potential upside of 12.04% from its previous close, with a "buy" rating maintained.
• Multiple analysts have upgraded their ratings on MasTec, with 15 ratings for "buy," 3 for "strong buy," and a consensus target price of $185.29 among analysts.
• The company reported a revenue of $3.55 billion for the last quarter, exceeding expectations, and posted earnings per share of $1.49, surpassing analysts' estimates by $0.08.

MasTec (NYSE:MTZ - Get Free Report) had its price objective boosted by stock analysts at TD Cowen from $175.00 to $195.00 in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a "buy" rating on the construction company's stock. TD Cowen's target price would indicate a potential upside of 12.04% from the company's previous close.

A number of other research firms also recently issued reports on MTZ. Jefferies Financial Group assumed coverage on shares of MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Truist Financial lifted their target price on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird upgraded shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $185.29.

MasTec Stock Performance

Shares of MTZ stock opened at $174.04 on Monday. The firm has a 50-day moving average of $169.01 and a 200-day moving average of $144.98. The company has a market cap of $13.73 billion, a P/E ratio of 51.49 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. MasTec has a one year low of $89.96 and a one year high of $194.00.

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

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. KBC Group NV increased its position in MasTec by 10.6% during the 1st quarter. KBC Group NV now owns 2,773 shares of the construction company's stock valued at $324,000 after purchasing an additional 266 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in MasTec by 37.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock valued at $1,915,000 after purchasing an additional 4,469 shares during the period. GAMMA Investing LLC increased its position in MasTec by 43.6% during the 1st quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after purchasing an additional 278 shares during the period. Sequoia Financial Advisors LLC increased its position in MasTec by 33.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock valued at $263,000 after purchasing an additional 565 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in MasTec by 9.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company's stock valued at $5,253,000 after purchasing an additional 4,031 shares during the period. 78.10% of the stock is owned by hedge funds and other 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.

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