MasTec (NYSE:MTZ) Raised to Strong-Buy at Baird R W

Key Points

• MasTec was upgraded from a "hold" to a "strong-buy" rating by Baird R W, reflecting increased analyst confidence in the stock's performance.
• Several analysts have set price targets for MasTec, with Guggenheim and Goldman Sachs both raising their targets to $195.00, indicating a bullish sentiment.
• MasTec's recent earnings report showed 19.7% revenue growth year-over-year, surpassing analyst estimates with earnings per share of $1.49, highlighting strong operational performance.

MasTec (NYSE:MTZ - Get Free Report) was upgraded by investment analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on MTZ. JPMorgan Chase & Co. upped their price objective on shares of MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Piper Sandler increased their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and lifted their price target for the company from $156.00 to $195.00 in a research report on Friday, June 6th. Jefferies Financial Group assumed coverage on shares of MasTec in a research note on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, MasTec has an average rating of "Buy" and an average target price of $193.24.

MasTec Stock Up 2.9%

Shares of NYSE MTZ opened at $182.91 on Monday. The firm has a market cap of $14.43 billion, a PE ratio of 54.12 and a beta of 1.83. The company has a 50 day simple moving average of $170.52 and a 200 day simple moving average of $145.62. 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 1 year low of $96.01 and a 1 year 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, beating analysts' consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The firm's revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. On average, research analysts forecast that MasTec will post 3.44 EPS for the current year.

Insider Buying and Selling at MasTec

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

Institutional Trading of MasTec

Several institutional investors have recently bought and sold shares of MTZ. Forum Financial Management LP grew its position in shares of MasTec by 3.9% in the first quarter. Forum Financial Management LP now owns 2,097 shares of the construction company's stock valued at $245,000 after purchasing an additional 78 shares during the period. Parallel Advisors LLC grew its stake in MasTec by 37.1% during the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock valued at $52,000 after acquiring an additional 82 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of MasTec by 4.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company's stock worth $338,000 after purchasing an additional 93 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in MasTec by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company's stock worth $2,007,000 after buying an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its holdings in MasTec by 2.2% in the 1st quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company's stock valued at $551,000 after purchasing an additional 100 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.