MasTec (NYSE:MTZ) Price Target Raised to $227.00

Key Points

• The Goldman Sachs Group has raised MasTec's price target from $195.00 to $227.00, indicating a potential upside of 24.45% and maintaining a "buy" rating for the stock.
• MasTec reported $1.49 EPS for the last quarter, surpassing the consensus estimate and showing a year-over-year revenue increase of 19.7%.
• Despite recent trading down 0.4% to $182.41, the company holds strong ratings with 15 analysts issuing "buy" recommendations and an average price target of $195.12.

MasTec (NYSE:MTZ - Get Free Report) had its price target lifted by research analysts at The Goldman Sachs Group from $195.00 to $227.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 25.10% from the company's current price.

Several other research firms have also issued reports on MTZ. Roth Capital began coverage on MasTec in a report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price target for the company. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Barclays restated an "overweight" rating and set a $200.00 price objective (up from $145.00) on shares of MasTec in a research report on Monday, July 21st. TD Cowen upped their target price on shares of MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Truist Financial set a $209.00 price target on MasTec in a report on Monday. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, MasTec presently has an average rating of "Buy" and an average price target of $195.12.

MasTec Stock Down 0.8%

Shares of MTZ stock traded down $1.52 during mid-day trading on Thursday, hitting $181.46. The company's stock had a trading volume of 771,373 shares, compared to its average volume of 1,063,984. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 53.69 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. MasTec has a 52-week low of $96.01 and a 52-week high of $194.00. The business has a 50-day moving average price of $171.57 and a 200 day moving average price of $145.95.

MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results 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. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. Research analysts predict that MasTec will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the transaction, the executive vice president owned 101,349 shares of the company's stock, valued at $18,312,750.81. This represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Wednesday, July 16th. The shares were 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 owned 194,249 shares of the company's stock, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $4,018,570 in the last ninety days. Insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently made changes to their positions in MTZ. Hill City Capital LP boosted its position in MasTec by 0.7% in the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company's stock valued at $250,343,000 after buying an additional 15,000 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after purchasing an additional 51,531 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in MasTec by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company's stock valued at $142,331,000 after purchasing an additional 39,622 shares in the last quarter. Goldman Sachs Group Inc. increased 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 purchasing an additional 648,184 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock valued at $106,234,000 after purchasing an additional 184,277 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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.