MasTec (NYSE:MTZ) Price Target Raised to $210.00 at DA Davidson

Key Points

• DA Davidson has raised its price target for MasTec from $170.00 to $210.00, suggesting a potential upside of 18.31% from the current price with a "buy" rating.
• Several other firms have also upgraded their price targets for MasTec, with TD Cowen raising to $195.00 and Truist Financial to $184.00, highlighting strong market confidence in the stock's future.
• MasTec reported a 19.7% year-over-year increase in revenue for the last quarter, achieving $3.55 billion and beating earnings expectations with $1.49 EPS compared to the consensus estimate of $1.41.

MasTec (NYSE:MTZ - Get Free Report) had its price target raised by equities research analysts at DA Davidson from $170.00 to $210.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. DA Davidson's price objective would suggest a potential upside of 18.31% from the stock's current price.

Several other research firms also recently issued reports on MTZ. TD Cowen boosted their price objective on shares of MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a report on Monday. Roth Capital assumed coverage on shares of MasTec in a report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective on the stock. Truist Financial boosted their price objective on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Robert W. Baird upgraded shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a report on Monday. Finally, Piper Sandler lifted their target price on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, MasTec has an average rating of "Buy" and an average price target of $190.82.

MasTec Stock Performance

MTZ traded up $3.46 during trading on Monday, hitting $177.51. The stock had a trading volume of 620,238 shares, compared to its average volume of 1,053,879. The firm has a market cap of $14.01 billion, a PE ratio of 52.52 and a beta of 1.83. MasTec has a 12 month low of $89.96 and a 12 month high of $194.00. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The company has a 50 day simple moving average of $169.01 and a 200-day simple moving average of $144.98.

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

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the business'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 transaction of $461,670.00. Following the completion of the sale, the director directly owned 39,782 shares of the company's stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the sale, the chief operating officer directly owned 194,249 shares of the company's stock, valued at approximately $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. Insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV boosted its holdings in shares of MasTec by 10.6% in the first quarter. KBC Group NV now owns 2,773 shares of the construction company's stock valued at $324,000 after buying an additional 266 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in MasTec by 37.4% in the first 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 in the last quarter. GAMMA Investing LLC grew its position in MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after purchasing an additional 278 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of MasTec by 33.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock valued at $263,000 after acquiring an additional 565 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in shares of MasTec by 9.8% in 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 acquiring an additional 4,031 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

About MasTec

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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