Mizuho Initiates Coverage on MasTec (NYSE:MTZ)

Key Points

• MasTec has been upgraded to a "strong-buy" rating by Mizuho, reflecting increased analyst confidence in the stock's performance.
• KeyCorp, Wall Street Zen, and Baird R W have also raised their price targets for MasTec, indicating a positive outlook with targets ranging from $196.00 to $210.00.
• The company reported a significant year-over-year revenue increase of 19.7% and exceeded earnings estimates, showcasing strong financial performance.

Mizuho initiated coverage on shares of MasTec (NYSE:MTZ - Free Report) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating and a $215.00 target price on the construction company's stock.

A number of other brokerages have also issued reports on MTZ. Robert W. Baird upgraded shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Monday, August 4th. The Goldman Sachs Group raised their price objective on shares of MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Citigroup dropped their price objective on shares of MasTec from $220.00 to $219.00 and set a "buy" rating for the company in a report on Monday, August 4th. Barclays reissued an "overweight" rating and set a $200.00 target price (up previously from $145.00) on shares of MasTec in a research report on Monday, July 21st. Finally, TD Cowen increased their target price on shares of MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $196.22.

MasTec Price Performance

Shares of MTZ stock traded up $11.30 on Thursday, reaching $186.29. The company had a trading volume of 525,901 shares, compared to its average volume of 1,026,414. The stock has a market capitalization of $14.70 billion, a PE ratio of 55.05 and a beta of 1.81. 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 one year low of $99.70 and a one year high of $194.00. The business's 50-day moving average is $178.06 and its 200 day moving average is $151.77.

MasTec (NYSE:MTZ - Get Free Report) last issued 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 business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. Equities research analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Insider Activity at MasTec

In other news, 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. The trade was a 8.98% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

Institutional Trading of MasTec

Hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its stake in MasTec by 71.6% during the 2nd quarter. Osaic Holdings Inc. now owns 30,118 shares of the construction company's stock valued at $5,132,000 after acquiring an additional 12,567 shares in the last quarter. American Trust bought a new stake in shares of MasTec during the 2nd quarter worth $202,000. Geneos Wealth Management Inc. increased its holdings in MasTec by 62.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,242 shares of the construction company's stock worth $212,000 after acquiring an additional 478 shares during the last quarter. FORA Capital LLC purchased a new stake in MasTec in the 2nd quarter worth about $1,717,000. Finally, Headlands Technologies LLC increased its holdings in MasTec by 1,544.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,694 shares of the construction company's stock worth $289,000 after acquiring an additional 1,591 shares during the last quarter. 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.