Stifel Nicolaus Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

MasTec (NYSE:MTZ - Get Free Report) had its price objective lifted by analysts at Stifel Nicolaus from $171.00 to $181.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Stifel Nicolaus' price objective suggests a potential upside of 16.81% from the stock's previous close.

A number of other analysts have also recently issued reports on MTZ. Jefferies Financial Group initiated coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective on the stock. KeyCorp increased their price objective on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Piper Sandler lifted 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. B. Riley restated a "buy" rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Finally, Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.69.

MasTec Price Performance

MasTec stock traded down $0.49 during mid-day trading on Wednesday, reaching $154.96. 184,181 shares of the company were exchanged, compared to its average volume of 939,086. The firm has a market cap of $12.23 billion, a PE ratio of 138.21 and a beta of 1.71. The company has a fifty day simple moving average of $130.77 and a 200-day simple moving average of $135.44. MasTec has a 12 month low of $89.96 and a 12 month high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) EPS. As a group, equities research analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the director now owns 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in MasTec by 163.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock valued at $121,843,000 after purchasing an additional 648,184 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MasTec in the fourth quarter worth $59,910,000. First Trust Advisors LP raised its stake in shares of MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of MasTec during the 4th quarter valued at $46,612,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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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