MasTec (NYSE:MTZ) Upgraded by Robert W. Baird to "Outperform" Rating

Key Points

• MasTec has been upgraded by Robert W. Baird from a "neutral" rating to an "outperform" rating, with a price target of $210.00, indicating a potential upside of 20.66% from its previous close.
• Other analysts have also raised their price targets for MasTec, with Piper Sandler setting a target of $175.00 and Truist Financial at $184.00, reflecting overall positive sentiment in the market.
• MasTec's recent earnings report showed an EPS of $1.49, surpassing expectations, and significant year-over-year revenue growth of 19.7%, positioning the company favorably in the infrastructure sector.

MasTec (NYSE:MTZ - Get Free Report) was upgraded by stock analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $210.00 price objective on the construction company's stock. Robert W. Baird's target price would indicate a potential upside of 20.66% from the company's previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler raised their price target on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Truist Financial lifted their target price on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research report on Monday, May 5th. KeyCorp reiterated an "overweight" rating and issued a $196.00 price target (up from $171.00) on shares of MasTec in a report on Wednesday, July 16th. 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 report on Friday, June 6th. Finally, JPMorgan Chase & Co. lifted their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. One investment 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $185.29.

MasTec Price Performance

Shares of MasTec stock opened at $174.04 on Monday. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 51.49 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. The stock has a 50 day moving average price of $169.01 and a 200-day moving average price of $144.98. MasTec has a one year low of $89.96 and a one year high of $194.00.

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 analysts' consensus estimates of $1.41 by $0.08. The firm had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The company's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Equities analysts expect that MasTec will post 3.44 EPS for the current year.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction 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 transaction, the director directly owned 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction on 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 transaction, the chief operating officer 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 disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

Institutional Trading of MasTec

Large investors have recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its holdings in shares of MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of MasTec in the 2nd quarter valued at about $35,000. Rothschild Investment LLC lifted its holdings in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after buying an additional 263 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company's stock valued at $47,000 after buying an additional 192 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of MasTec in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors 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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